Marketing Studies I: Brand Pro Program Overview
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Marketing Studies I: Brand Pro Program Overview

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Questions and Answers

What was the main purpose of the trademark evolution seen in the Moon and Stars logo over time?

  • To create a new brand identity
  • To increase decorative features
  • To make it more complex
  • To simplify its look (correct)

    • How does branding contribute to a business's competitive advantage?

  • By lowering prices
  • By creating loyalty (correct)
  • By increasing operational costs
  • By focusing only on product features

    • Which of the following accurately describes a product?

  • A legal patent for a trademark
  • A tangible asset owned by a business
  • Anything offered to satisfy a need or want (correct)
  • A marketing strategy to enhance brand identity

    • What role does a brand play in simplifying for customers?

    <p>By offering quick recognition and understanding</p> Signup and view all the answers

    Which of the following is NOT a function of branding for a customer?

    <p>Increases price sensitivity</p> Signup and view all the answers

    What is one justification for higher prices due to branding?

    <p>Enhanced brand loyalty</p> Signup and view all the answers

    Which aspect of branding provides legal protection for a business?

    <p>Protects intellectual property rights</p> Signup and view all the answers

    What is a key difference between a product and a brand?

    <p>A brand represents customer perceptions, while a product fulfills needs</p> Signup and view all the answers

    What aspect of consumer behavior do personal opinions and evaluations relate to?

    <p>Consumer judgments</p> Signup and view all the answers

    Which of the following elements is NOT mentioned as part of brand performance?

    <p>Brand imagery</p> Signup and view all the answers

    What does consumer brand resonance primarily measure?

    <p>Customer feelings towards a brand</p> Signup and view all the answers

    Which of the following is part of the brand imagery association?

    <p>Consumer lifestyle fit</p> Signup and view all the answers

    Which element is likely a competitive challenge for brands?

    <p>Brand comparisons</p> Signup and view all the answers

    In what area does color and country-of-origin primarily play a role?

    <p>Brand heritage</p> Signup and view all the answers

    Which judgment is directly related to the perceived quality of a brand?

    <p>Brand performance</p> Signup and view all the answers

    What primarily influences consumer judgments of a brand?

    <p>Personal experiences</p> Signup and view all the answers

    What is the main purpose of the Brand Pro program?

    <p>To compete for the best Shared Price Index (SPI).</p> Signup and view all the answers

    Which of the following skills are emphasized in the course?

    <p>Public speaking and communication skills.</p> Signup and view all the answers

    Which components are part of the Brand Pro experience?

    <p>Lectures and workshops with local instructors.</p> Signup and view all the answers

    What is one of the key learning objectives of the program?

    <p>To produce clear and well-organized verbal presentations.</p> Signup and view all the answers

    What role does the Brand Pro simulation play in the course?

    <p>It allows students to apply learned concepts in a competitive environment.</p> Signup and view all the answers

    Which of the following campuses is NOT mentioned as part of the Brand Pro program?

    <p>Berlin</p> Signup and view all the answers

    Which factor contributes to the competition within the Brand Pro program?

    <p>Shared Price Index performance.</p> Signup and view all the answers

    What is a reason for taking the course mentioned in the content?

    <p>To understand how marketing strategy impacts performance.</p> Signup and view all the answers

    What does brand salience indicate about a brand?

    <p>The likelihood of a brand being recognized or recalled</p> Signup and view all the answers

    Which factor contributes to strong brand performance?

    <p>Depth of brand awareness</p> Signup and view all the answers

    What aspect of consumer perception is mainly associated with brand resonance?

    <p>The emotional connection to the brand</p> Signup and view all the answers

    What are the components of brand imagery?

    <p>Visual identity and storytelling</p> Signup and view all the answers

    Which of the following does NOT contribute to depth of brand awareness?

    <p>Product pricing</p> Signup and view all the answers

    Why is consumer judgment critical in brand equity?

    <p>It impacts consumer feelings toward the brand</p> Signup and view all the answers

    What is characterized as accessible responses in branding?

    <p>Consumers' ability to recall brand attributes easily</p> Signup and view all the answers

    What influences consumers' feelings toward a brand?

    <p>Brand associations and performance</p> Signup and view all the answers

    What is a key objective of branding in customer relationships?

    <p>To create positive brand associations</p> Signup and view all the answers

    Which concept is directly related to consumer's judgments of a brand?

    <p>Evaluation of product features</p> Signup and view all the answers

    What does brand credibility primarily consist of?

    <p>Perceived expertise, trustworthiness, and likeability</p> Signup and view all the answers

    Which aspect of brand consideration reflects the likelihood of a brand being included in customer choice?

    <p>Brand consideration</p> Signup and view all the answers

    What is brand superiority concerned with?

    <p>The perceived uniqueness and quality of a brand compared to others</p> Signup and view all the answers

    Which of the following best describes emotional responses in relation to a brand?

    <p>Customer feelings about themselves and relationships with others</p> Signup and view all the answers

    How is brand salience defined in the context of consumer feelings?

    <p>The relevance of a brand in a consumer's purchase decision</p> Signup and view all the answers

    Which factor is NOT part of brand credibility?

    <p>Brand loyalty</p> Signup and view all the answers

    What do emotional responses towards a brand influence in consumers?

    <p>Their future purchasing decisions and brand loyalty</p> Signup and view all the answers

    Which of the following best characterizes brand imagery?

    <p>The visual representation and perception of a brand in consumer minds</p> Signup and view all the answers

    Study Notes

    Marketing Studies I

    • The Brand Pro program culminates with 1,700+ students competing for the best Shared Price Index (SPI).
    • The program takes place across 3 French and 4 International campuses.
    • There is 1 campus winner from each location (France + international), culminating in a global winner.
    • The program evaluates student performance through the following factors:
      • Relative SPI performance
      • Individual MCQ score (Mid-Term Exam)
      • Individual performance in the group presentation
      • Group presentation grade
    • The Brand Pro program includes workshops on Roles and rules, Key decisions, and Running the Simulation.
    • In addition to the program, students can utilize the Google Digital Garage Course on Public Speaking to supplement their skills.
    • The course is free, 20-minute e-Learning and requires login.
    • The course provides tips on speaking effectively.
    • Students can also find public speaking resources on YouTube.
    • ChatGPT can be used to gain further tips on public speaking.
    • The Brand Pro program provides opportunities for students to build their understanding of brand management principles.
    • Public speaking skills are emphasized, and the program provides a way for students to hone those skills.

    Role of Brands

    • The role of brands in Business:
      • For Business:
        • Positions and builds brand identity
        • Differentiates and creates competitive advantage
        • Increases margins, justifying higher prices
        • Creates loyalty, building bonds and connections
        • Provides legal protection through intellectual property rights (trademarks, patents, copyrights)
    • The role of brands for a Customer:
      • For Customer:
        • Informs
        • Simplifies
        • Increases value
        • Creates group identity
        • Guarantees

    Defining a Product

    • A product is anything offered to a market for attention, acquisition, use, or consumption that might satisfy a need or want.
    • Customer-based brand equity
    • The stages of Brand Development focus on consumer and brand interactions across identity, meaning, responses, and relationships.
    • Branding objectives, according to Keller (2008), are associated with the brand development process.
    • Key objectives include:
      • Brand salience: Deep and broad brand awareness
      • Brand performance: Strong, favorable, and unique associations
      • Brand imagery: Positive and accessible responses
      • Brand judgements: Rational
      • Brand feelings: Emotional
      • Brand resonance: Intensive and active relationships with the brand.

    Brand Salience

    • Brand awareness or salience is the strength of a brand in the mind of the consumer.
    • This is an indicator of how easily a brand comes to mind.
    • Salient brands are easily recognized and recalled, and have a strong, clear category membership.

    Brand History

    • Brand history encompasses links between brand events and personal brand history.
    • Key elements of brand history include:
      • Color, country-of-origin, and competitive challenges.

    Consumer Judgements:

    • Judgements refer to personal opinions and consumer evaluations of a brand based on performance and imagery associations.
    • These judgements focus on four key areas:
      • Brand quality
      • Brand credibility
      • Brand consideration
      • Brand superiority

    Consumer Feelings

    • Feelings are emotional responses and reactions to a brand.
    • Feelings also encapsulate how the bran affects the customer's self-perception and relationship with others.
    • Key areas of consumer feelings are:
      • Self-esteem,
      • Security,
      • Social approval,
      • Familiarity and warmth,
      • Pleasure and excitement,
      • Feeling of belonging.

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    M1 Marketing Studies with BrandPRO Business Simulation 2024 PDF

    Description

    Explore the Brand Pro program designed for marketing students, where over 1,700 competitors vie for the best Shared Price Index (SPI). The program spans several campuses and evaluates performance through multiple criteria, including MCQ scores and group presentations. Enhance your public speaking skills with resources like Google Digital Garage and YouTube.

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