Marketing Exam 1: Chapters 1-3, 9, and 14

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Questions and Answers

What was the primary function of early brands?

Communicating detailed product information and features.
Creating emotional connections with consumers.
Signifying a company's products and identifying their origin. (correct)
Establishing a price premium over generic alternatives.

Which of the following is NOT mentioned as part of the Exam 1 content?

Chapter 3
Chapter 14
Chapter 2 (correct)
Chapter 9

If a company founded in 1802 and another in 1806 both utilize branding, which statement best describes their approach during that era?

Both companies primarily focused on digital marketing strategies.
Both likely used branding primarily for product identification. (correct)
Neither company likely utilized branding in any significant way.
Both companies focused on creating brand communities via social events.

A marketing student is preparing for an exam covering brand management. They want to focus their study time effectively. Based on the study guide, what should be their primary focus?

In-depth knowledge of specific examples discussed during class sessions. (D) Signup and view all the answers

A company is launching a new product. Considering the evolution of branding, what should their initial branding strategy prioritize to ensure product recognition?

Establishing a clear and easily recognizable mark to identify the product's origin. (B) Signup and view all the answers

In the context of brand audits, what is the key difference between a brand inventory and a brand exploratory?

A brand inventory focuses on internal brand elements, while a brand exploratory investigates external market perceptions. (C) Signup and view all the answers

When conducting qualitative research for a brand, which of the following best describes the application of projective techniques?

Employing indirect questioning to uncover hidden consumer beliefs and feelings. (B) Signup and view all the answers

In brand revitalization, what does 'back to basics' typically involve?

Focusing on the brand's core values and ensuring they are consistently delivered. (C) Signup and view all the answers

A company is considering a brand extension. How would you classify 'Branded House' in terms of brand architecture?

An approach where the corporate brand serves as a primary identifier across all products. (C) Signup and view all the answers

What is the primary goal of leveraging in the context of brand extensions?

To use the existing brand equity to introduce new products or services. (A) Signup and view all the answers

What is the purpose of free association in qualitative brand research?

To uncover the immediate thoughts and feelings consumers have when presented with a brand. (A) Signup and view all the answers

When reinforcing a brand like Gillette, which focuses on 'high performance, reliable, innovative blades', which element of the Brand Value Chain is being directly addressed?

Performance (B) Signup and view all the answers

A brand decides to revitalize by expanding brand awareness. Which customer-focused strategy would directly support this goal?

Attracting new customers with broad-reach marketing efforts. (C) Signup and view all the answers

Which of the following best describes how brand equity impacts a company's pricing strategy?

Decreases price elasticity of demand, making consumers less sensitive to price changes. (D) Signup and view all the answers

A new brand is trying to establish itself in a competitive market. According to the brand resonance model, what is the foundational step they should prioritize?

Establishing brand salience to ensure high awareness and recall. (A) Signup and view all the answers

When selecting points-of-difference, which of the following criteria ensures that the chosen associations are sustainable and provide a competitive edge?

The points-of-difference are desirable, deliverable, and differentiating. (B) Signup and view all the answers

How do 'correlational points-of-parity' influence consumer perception of a brand?

By negating potential negative associations arising from points-of-difference. (D) Signup and view all the answers

A luxury car brand emphasizes its heritage, exclusive user profiles, and high-end purchase scenarios in its marketing. Which aspect of brand imagery is the company leveraging?

User profiles and purchase/usage situations. (C) Signup and view all the answers

What is the primary benefit of 'brand recognition' for consumers?

It aids in learning about the product category. (B) Signup and view all the answers

A company decides to extend its well-known brand into a completely new product category. How does strong brand equity aid this brand extension?

It provides additional brand extension opportunities and consumer trust. (A) Signup and view all the answers

Which of the following is the best example of behavioral segmentation in determining a target market?

Targeting customers who are early adopters of technology. (D) Signup and view all the answers

According to the Brand Resonance Model, what is the key difference between `brand judgments` and `brand feelings`?

Brand judgments are customers' personal opinions and evaluations, while brand feelings are customers' emotional reactions and responses to the brand. (C) Signup and view all the answers

What is the most likely reason that Wrigley's gum continues to succeed, despite primarily being strong only in brand salience?

Brand salience can be sufficient for frequently purchased, low-involvement products. (D) Signup and view all the answers

Flashcards

Brand Definition

A brand is an identifier for a company's products.

Early Brands Purpose

Early brands were used to signify a company's products.