5: Communicating the Brand Position through Marketing Programs to Build Brand Equity

Question 1

What are the new approaches embraced by marketers?

Answer 1

• Rapid technological developments
• Greater customer empowerment
• Fragmentation of traditional media
• Growth of interactive and mobile marketing options
• Channel transformation and disintermediation
• Increased competition and industry convergence
• Globalization and growth of developing markets
• Heightened environmental, community, and social concerns
• Severe economic recession

Question 2

What is one of the most important benefits of building a strong brand?

Answer 2

– Price premiums

Question 3

What is the objective of value pricing?

Answer 3

to uncover the right blend of product
quality, product costs, and product prices
▪ That fully satisfies the needs and wants of
consumers
▪ As well as the profit targets of the firm

Question 4

What is price segmentation?

Answer 4

Sets and adjusts prices for appropriate market segments

Question 5

What are the reasons for price stability?

Answer 5

– Forward buying

– Diverting

Question 6

What are the types of relationship marketing?

Answer 6

a) Experiential Marketing
b) Relationship Marketing
c) Mass Customization
d) Permission Marketing

Question 7

What are the brand experience scale?

Answer 7

Sensory
-This brand makes a strong impression on my visual sense or other senses.
-I find this brand interesting in a sensory way.
-This brand does not appeal to my senses.
Affective
-This brand induces feelings and sentiments.
-I do not have strong emotions for this brand.
-This brand is an emotional brand.
Behavioral
-I engage in physical actions and behaviors when I use this brand.
- This brand results in bodily experiences.
- This brand is not action oriented.
Intellectual
- I engage in a lot of thinking when I encounter this brand.
- This brand does not make me think.
- This brand stimulates my curiosity and problem solving.