Podcast
Questions and Answers
What factor primarily influences how secondary brand associations affect evaluations of new products?
What factor primarily influences how secondary brand associations affect evaluations of new products?
What is a critical requirement for leveraging associations from another entity to a brand?
What is a critical requirement for leveraging associations from another entity to a brand?
Which predictor determines the transferability of an entity's knowledge to a brand?
Which predictor determines the transferability of an entity's knowledge to a brand?
What aspect is NOT a predictor of the extent of leverage from linking a brand to another entity?
What aspect is NOT a predictor of the extent of leverage from linking a brand to another entity?
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What do country of origin (CoO) effects primarily influence in consumer behavior?
What do country of origin (CoO) effects primarily influence in consumer behavior?
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Cognitive consistency in brand associations implies that consumers infer what about the focal brand?
Cognitive consistency in brand associations implies that consumers infer what about the focal brand?
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Which of the following factors is NOT mentioned as influencing the perception of products based on their country of origin?
Which of the following factors is NOT mentioned as influencing the perception of products based on their country of origin?
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What is essential for leveraging an entity's associations according to consumer knowledge?
What is essential for leveraging an entity's associations according to consumer knowledge?
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Why is it important for brand managers to evaluate CoO associations from both domestic and foreign perspectives?
Why is it important for brand managers to evaluate CoO associations from both domestic and foreign perspectives?
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How do some entities impact brand knowledge differently during the leveraging process?
How do some entities impact brand knowledge differently during the leveraging process?
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What role do brand managers take on when linking a brand to other entities?
What role do brand managers take on when linking a brand to other entities?
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What is a key element in leveraging country of origin effects for creating secondary brand associations?
What is a key element in leveraging country of origin effects for creating secondary brand associations?
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How do countries utilize packaging to leverage CoO effects?
How do countries utilize packaging to leverage CoO effects?
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What has globalisation resulted in concerning country of origin as a marketing attribute?
What has globalisation resulted in concerning country of origin as a marketing attribute?
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Which statement about the placement of country-of-origin information is true?
Which statement about the placement of country-of-origin information is true?
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In terms of purchase drivers, which factor ranks higher than price and availability?
In terms of purchase drivers, which factor ranks higher than price and availability?
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What is a potential risk of using a saturation policy in licensing?
What is a potential risk of using a saturation policy in licensing?
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What can negatively impact customer perception in licensing partnerships?
What can negatively impact customer perception in licensing partnerships?
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Which of the following is NOT a reason firms may engage in corporate trademark licensing?
Which of the following is NOT a reason firms may engage in corporate trademark licensing?
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What constitutes a potential challenge of brand extensions?
What constitutes a potential challenge of brand extensions?
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What is a reason licensers, such as Disney, protect their characters through licensing agreements?
What is a reason licensers, such as Disney, protect their characters through licensing agreements?
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Which of the following describes a consequence of perceived incongruity in brand alliances?
Which of the following describes a consequence of perceived incongruity in brand alliances?
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What can leveraging geographic origin contribute to branding?
What can leveraging geographic origin contribute to branding?
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What could lead to negative consumer reactions in ingredient branding?
What could lead to negative consumer reactions in ingredient branding?
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What factors contribute to a retailer's brand image in consumers' minds?
What factors contribute to a retailer's brand image in consumers' minds?
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How do secondary associations affect brand equity?
How do secondary associations affect brand equity?
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What is a significant requirement from customers regarding supply chain partners?
What is a significant requirement from customers regarding supply chain partners?
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Why do luxury brands prefer selective distribution channels?
Why do luxury brands prefer selective distribution channels?
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What effect does retailer's credit policy have on brand perception?
What effect does retailer's credit policy have on brand perception?
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Which of the following aspects can negatively impact customer-based brand equity (CBBE)?
Which of the following aspects can negatively impact customer-based brand equity (CBBE)?
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What is one way retailers can expand their customer base?
What is one way retailers can expand their customer base?
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What role do display and inventory management systems play in retailing?
What role do display and inventory management systems play in retailing?
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What is a key benefit of sponsored events for brands?
What is a key benefit of sponsored events for brands?
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Which characteristic is NOT essential for a celebrity endorser to be effective?
Which characteristic is NOT essential for a celebrity endorser to be effective?
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Which of the following is an example of a credible third-party source that can enhance brand trust?
Which of the following is an example of a credible third-party source that can enhance brand trust?
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What aspect can diminish the marketing value of a celebrity endorser?
What aspect can diminish the marketing value of a celebrity endorser?
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What role do celebrities play in marketing partnerships?
What role do celebrities play in marketing partnerships?
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How do cause-related marketing programs (CRMPs) affect brand associations?
How do cause-related marketing programs (CRMPs) affect brand associations?
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What factor does NOT determine an endorser's credibility?
What factor does NOT determine an endorser's credibility?
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Which of the following best describes the impact of the Lexus Melbourne Cup on Lexus's brand?
Which of the following best describes the impact of the Lexus Melbourne Cup on Lexus's brand?
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Which of the following is a potential problem associated with celebrity endorsers?
Which of the following is a potential problem associated with celebrity endorsers?
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When selecting a celebrity endorser, what is a crucial factor to evaluate?
When selecting a celebrity endorser, what is a crucial factor to evaluate?
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What are the three main contributions of sponsored events to brands?
What are the three main contributions of sponsored events to brands?
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What is a benefit of leveraging well-known individuals for brand promotion?
What is a benefit of leveraging well-known individuals for brand promotion?
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In what way does a brand manager utilize third-party sources?
In what way does a brand manager utilize third-party sources?
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What is the primary purpose of leveraging events in brand marketing?
What is the primary purpose of leveraging events in brand marketing?
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What is the consequence of consumers perceiving celebrities as being motivated only by money?
What is the consequence of consumers perceiving celebrities as being motivated only by money?
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What role do social media and digital media play in celebrity endorsements?
What role do social media and digital media play in celebrity endorsements?
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Study Notes
Brand Leveraging
- Brand awareness is the foundation of brand leveraging, defined as a consumer's immediate association of a specific product with a particular category.
- Examples include Nike with running shoes, Uber with ride-sharing, and Colgate with dental hygiene.
- Secondary brands are sub-brands or extensions of a main brand, designed to differentiate products/services within a portfolio and target new markets.
- Benefits include unique identity, market differentiation, and customer loyalty.
Brand Knowledge and Leveraging
- Brand knowledge refers to a consumer's understanding of a brand, derived from recall and recognition of brand elements in various contexts.
- Secondary brand associations significantly influence the evaluation of new product introductions.
- Brand knowledge depends on brand awareness and image, which impact customer perceptions.
- The associative memory model can be used to conceptualize leveraging secondary brand associations.
Conceptualizing Secondary Associations
- Linking a brand to another entity (brand, person, place, event, etc.) creates new associations, positively or negatively impacting existing associations.
- Creation of new associations is most influential when consumers lack the knowledge or motivation to independently assess the product.
- The extent of leveraging depends on consumer knowledge of the linked entity and the ease of shifting brand associations.
Sources of Secondary Brand Associations
- Brands can leverage equity from various sources such as other brands, people, places, and things (events, programs, etc.).
- Four major categories include other brands, people, places, and things, and factors in those categories that can enhance brand associations are detailed.
Leveraging Corporate Brand
- Companies use corporate brands to enhance the association of new product lines with the company's reputation.
- Corporate brands can be used to increase the brand value of a completely new brand.
Co-Branding
- Co-branding involves two or more brands combining to create a joint product or service.
- This can enhance brand perception by creating stronger points of differentiation and points of parity.
- Co-branding can reduce new product introduction costs and accelerate adoption.
Guidelines for Creating Strong Co-Brands
- Brands should have adequate awareness and positive associations.
- Perspectives of brand partners should be congruent and logical.
- Strong coordination and integration are crucial, including legal contracts, financial arrangements, and coordinated marketing programs.
Ingredient Branding
- Ingredient branding focuses on the components of a product, increasing consumer preference for products containing the ingredient brand.
- It signals quality and reduces risk, particularly desirable to mature brands in their quest for differentiation.
Licensing
- Licensing allows one brand to use another’s name, logo, characters, etc., thereby associating their brand with the licensed brand's image and equity.
- It can protect brands from counterfeiting and effectively control brand extension.
- Brand managers must manage over-exposure risks and congruency between the brands to avoid diluting or eroding brand equity.
Leveraging Geographic Location
- Customers associate certain qualities with products originating from specific regions/countries.
- Brand managers use country-of-origin associations to create positive brand associations.
Leveraging Retailing Channels
- Retailers' brand image and distribution channels can impact brand associations.
- Product assortment, pricing, credit policy, and service quality significantly affect perception of associated brands.
Leveraging People (Celebrities/Influencers)
- Branded products/services can gain exposure/loyalty via celebrities' endorsements.
- Characteristics of credible celebrity endorsers are relevant for success, including high visibility, credible associations, trustworthiness, expertise, likeability, and relevant product associations.
- Brand managers face challenges like over-endorsement and celebrity image issues negatively impacting brand reputation and image when selecting and managing celebrity endorsers.
Leveraging Events, Causes, and Other Things
- Brand sponsorship of events, causes, etc., creates positive associations for brands if leveraged correctly—with the events and causes, brand associations can become more positive and distinct).
- This can involve aligning brands with events and causes perceived positively by consumers.
Third-Party Sources
- Brands can utilize third-party reviews, awards, and endorsements from expert sources to enhance their credibility and increase visibility.
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Description
This quiz explores the principles of brand leveraging, highlighting the significance of brand awareness, knowledge, and secondary brand associations. Understand how brands like Nike and Uber utilize their identities to differentiate products and foster customer loyalty. Test your grasp of these key marketing concepts and their impact on consumer perceptions.
