Brand Strategy

Question 1

3 functions of brands

Answer 1

Easier decision making for consumers
Uncertainty reduction for consumers
Satisfies consumers’ emotional needs

Question 2

Why would brands matter to B2B buyers

Answer 2

Less time for B2B buyers
Risk reduction

Question 3

Limitations of country of origin brand building

Answer 3

Faults of other brands from the country can spillover
Customer’s anger from political disputes

Question 4

Types of brands

Answer 4

Prestige brands
Fun brands

Question 5

Challenges of prestige brands

Answer 5

Conflict with investor demand and scarcity
Backlash against the elite and income inequality

Question 6

Challenges of fun brands

Answer 6

High market sensing skills
Shrinking youth segment
CSR trend

Question 7

Potential reasons for rebranding

Answer 7

New product markets
New geographic markets
Repositioning
Mergers and acquisitions
Overcome brand scandal
Brand image needs to fit the current marketplace