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Branding 101

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Questions and Answers

What is brand association?

The geographical connection between a brand and its target market

The mental connection a customer makes between your brand and a concept, image, emotion, experience, person, interest, or activity (correct)

The physical connection a customer makes with a brand's product or service

The legal connection between a brand and its trademark

What is brand equity?

The market share held by a brand in a specific industry

The number of products sold under a brand name

The added value a brand name gives to a product beyond the functional benefits provided (correct)

The total revenue generated by a brand in a fiscal year

What are the 4 types of brands?

Retail brand, wholesale brand, distributor brand, franchise brand

Global brand, national brand, regional brand, local brand

Manufacture brand, licensed brand, private brand, co-brand (correct)

Premium brand, luxury brand, economy brand, mid-tier brand

What are the roles of brands?

Set and fulfill expectations, Reduce risk, Simplify decision making, take on personal meaning, becomes part of identity Signup and view all the answers

How much did Disney earn in licensing?

56.2 Billion dollars Signup and view all the answers

What does intangibility refer to in the context of services?

Services cannot be seen, tasted, felt, heard, or smelled before purchase Signup and view all the answers

What does inseparability imply about services?

Services cannot be separated from their providers Signup and view all the answers

What is the meaning of inconsistency in the context of services?

Services are provided by people and every time you get a service it could be different Signup and view all the answers

What does inventory mean in the context of services?

Inventory carrying costs are related to idle production capacity Signup and view all the answers

What is idle production capacity in the context of services?

When the service provider is available but there is no demand for the service Signup and view all the answers