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Brand Management Strategies

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Questions and Answers

What is a brand according to the American Marketing Association?

A way to create a competitive advantage through marketing

A vital tool for creating and maintaining customer relationships

A set of activities to create customer value

A name, term, sign, symbol, or design to identify goods and services (correct)

What is the primary role of a brand in creating customer value?

To create a competitive advantage through marketing

To create and maintain a relational role with the customer (correct)

To create a social glue that brings people together

To create a central point of view for the customer

What does conspicuous consumption imply about a brand?

It is a tool for creating a competitive advantage

It is a way to differentiate a product from its competitors

It is a way to associate products with ideas

It is a badge that reflects the consumer's identity (correct)

What is the ultimate goal of a brand strategy?

To create a competitive advantage through marketing Signup and view all the answers

What does a brand exist in, according to the text?

The customer's mind Signup and view all the answers

What is a brand according to the text?

A cognitive web of associations and relationships Signup and view all the answers

What is a key aspect of a brand beyond just being a product?

Its emotional connection with customers Signup and view all the answers

What do brands provide to consumers when evaluating product performance?

Innovations cues Signup and view all the answers

What is the ultimate goal of strategic brand management?

To build and measure brand equity Signup and view all the answers

What is brand equity related to?

The financial value of a brand Signup and view all the answers

What role do brands play in launching new products or services?

Brands facilitate the launch of new products Signup and view all the answers

What is the main benefit of using 'Arena Thinking' according to Manfredi Ricca?

To drive exponential growth in new spaces while capitalizing on existing gains Signup and view all the answers

What is a key characteristic of strong brands according to the Brand Report Card?

They excel at delivering what customers truly desire Signup and view all the answers

What is a concern about the current state of branding?

The allure of brands is fading Signup and view all the answers

What is a key aspect of brand management, according to the Brand Report Card?

Understanding what the brand means to customers Signup and view all the answers

What is a potential negative consequence of price promotions?

They hurt long-term benefits Signup and view all the answers

Which brand is an example of having a sensible portfolio and hierarchy?

Coca-Cola Signup and view all the answers