30 Questions
What is the primary objective of the brand value chain?
To create value through the marketing program
What can inhibit the creation of brand value?
Industry sentiment and other external factors
Why is it important to recognize the uncontrollable nature of certain factors?
To put the success or failure of marketing programs into perspective
What is the significance of the three multipliers in the brand value chain?
They can increase or decrease market value
What is the purpose of the brand value chain roadmap?
To identify areas where value is being lost or gained
What are the three main sources of information for assessing the brand value chain?
Marketing plans, customer research, and market scans
What is the purpose of analyzing investor sentiments and estimating shareholder value?
To modify the brand value chain
What is a potential effect of stock prices on a company?
Increased employee morale and motivation
How may stock analysts react to an ad campaign?
By reacting to it personally or in recognition of public acceptance
What may be a characteristic of marketing activities?
They may have very diffuse effects that manifest over the long term
What is an example of a brand element?
Brand name
What should marketers aim to do when choosing brand elements?
Increase brand awareness
What is a brand, according to the American Marketing Association (AMA)?
A name, term, sign, symbol, or design that identifies and differentiates a seller's goods and services
What is the primary purpose of a brand?
To differentiate products from competitors
Why is it important for a brand name to be familiar and meaningful?
To tap into existing knowledge structures
What is the core benefit level of a product?
The fundamental need or want that consumers satisfy by consuming the product
What is the generic product level?
A basic version of the product containing only necessary attributes
What is the primary goal of combining morphemes to create a brand name?
To create a brand name with implicit meaning
What is the expected product level?
A set of attributes or characteristics that buyers normally expect
What is the total number of morphemes in the English language?
7,000
What is the purpose of researching final candidates in the naming procedure?
To confirm management expectations
What is the purpose of the augmented product level?
To distinguish a product from competitors
What is another term for URLs?
Domain names
Why do companies need to register and pay for a specific URL?
To own a specific URL
What do consumers often compare prices with when examining them?
Internal frames of reference or external frames of reference
What is an important factor in determining a pricing strategy?
Consumer perceptions and preferences
What is the objective of value-based pricing?
To uncover the right blend of product quality, product costs, and product prices
What is a price band?
A range of acceptable prices within a tier
What is a key factor in purchase decisions, according to the text?
Consumer associations of perceived value
What do firms consider when determining a pricing strategy?
The costs of making and selling products, and the relative prices of competitive products
Introduction to brand management, defining what a brand is and how it differs from a product, and its role in marketing and competition.
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