Chapter 9
6. Which of the following is not a competitive advantage included in brand loyalty: a. Reducing marketing costs b. Entry to barrier c. Increased name recall at time of purchase d. Satisfied customer base projects successful product e. Provides time to respond to competitive moves
C. Increased name recall at time of purchase. This characteristic is competitive advantage of brand awareness, not brand loyalty.
Brand identity is a set of current brand associations that the firm aspires to create or maintain.
False. A brand identity is an aspirational external brand image, which may not include elements that currently present in the image. Brand image is the current image.
Brand awareness does not provide competitive advantages, only key factors.
False. Brand Awareness does provide SCA's: signal of presence, commitment and substance, brand provides consumer with a sense of familiarity and salience that will determine consumer's recollection at a time of purchase.
Brand association is anything directly related to the consumer's memory to a brand.
False. Brand association is anything directly and indirectly related to the consumer's memory to a brand.
The three types of brand assets are brand awareness, brand equity and brand loyalty.
False. The three types of brand assets are brand awareness, brand associations, and brand loyalty.
Proof points are programs, initiatives, and assets that are planned to provide substance to the strategic position.
False. This statement is true we just add that proof points help communicate the strategic position.
The three steps of creating a brand identity are ______, _______, and _______.
Identifying characteristics that the brand should stand for, defining the core identity and communicate the brand internally (the core essence.)
To manage customer loyalty, organizations will measure loyalty of existing customers, manage customer touch points, conduct exit interviews, maintain communication with customers, have a customer culture, measure the lifetime value of customer, _____________ and ______________.
Reward loyal customers and make customers feel a part of the organization.
The extremes on the relevance spectrum are ________ and ______. The middle of the spectrum belongs to ______.
Trend neglecters and trend drivers; trend followers
A strategic imperative is an investment in an asset or program that is essential if the promise to the customers is to be delivered.
True
Brand awareness serves to differentiate brands along a recall/familiarity dimension.
True
Firms dependent on brand association position based on certain attributes are vulnerable to competitor innovation and shouting matches that lead to lost credibility.
True
Maintaining relevance is the battle to stay associated with the product category in which the customer in interested.
True
Organizations can increase their likelihood of brand awareness by extending their presence outside the conventional media channels and using methods, such as promotions, publicity, and sampling.
True
The Datsun name was just as strong as the Nissan name four years after the name change primarily because brand awareness is an asset that can be extremely durable and thus sustainable.
True
The strongest brands often offer emotional benefits. They are about the "I feel" statement. Other strong brand benefit offerings are a self-expressive benefits, which are all about the "I am."
True
The ultimate measure of brand loyalty is that customers will recommend the brand to others.
True
Virgin has extended its brand into dozens of business areas including cola and jeans.
True
Brand identity serves to drive and guide strategic initiatives throughout organizations, drive the communication program and support the expression of the organization's values and culture.
True.