BRANDING

Question 1

The product that the entrepreneur intends to produce and sell must be properly positioned in the minds of the target consumers through a marketing tool or strategy.

Answer 1

Marketing Mix

Question 2

Once the product fails to satisfy the needs and wants of the target consumers better than the competitors, the other elements of the marketing mix will definitely lose their significant value.

Answer 2

Marketing Mix

Question 3

Refers to the name, design, color, symbol, quality, features, or a combination of these elements that make the product separate and distinct from similar products of the competitors.

Answer 3

BRAND

Question 4

Refers to the identity of a company, of a product, or a service, or of an entrepreneur.

Answer 4

BRAND

Question 5

Very critical in the promotion of products among consumers. In most instances, they associate the features, attributes, benefits, or value of the product with the brand.

Answer 5

BRANDING

Question 6

has been considered by experts in the field of marketing and entrepreneurship to be another marketing strategy of product positioning.

Answer 6

BRANDING

Question 7

The brand carries: attributes, benefits, values of the product

Answer 7

BRANDING

Question 8

Refer to the characteristics or qualities that define a product, service, or brand.

Answer 8

Attributes

Question 9

Unique aspects that showcase its value, quality, personality, or at distinctiveness compared to competitors.

Answer 9

Attributes

Question 10

Quality, Price, Design, Service, Brand, Personality

Answer 10

Attributes

Question 11

The process of creating a unique image or identity for a product in the minds of consumers

Answer 11

PRODUCT POSITIONING

Question 12

The process of creating a unique image or identity for a product in the minds of consumers

Answer 12

PRODUCT POSITIONING

Question 13

It defines how a product is different from competitors and why customers should choose it.

Answer 13

PRODUCT POSITIONING

Question 14

Refer to the tangible and intangible advantages that a product offers to its consumers. These benefits can be both functional and emotional, helping to meet consumer needs and enhance their overall experience with the product.

Answer 14

PRODUCT BRANDING

Question 15

functional benefit, emotional benefit, competitive advantage, customer loyalty

Answer 15

PRODUCT BRANDING

Question 16

The unique name given to a business, product, or service that helps differentiate it from competitors. It is an essential part of branding and plays a crucial role in attracting customers, building trust, and establishing a strong market presence.

Answer 16

BRAND NAME

Question 17

Influence the buying decision of the consumers

Answer 17

BRAND NAME

Question 18

This is why the entrepreneur must define a clear and effective branding strategy, so that the product remains competitive in the market.

Answer 18

BRAND NAME

Question 19

Memorable, Unique, Relevant, Simple & Easy to Pronounce, Scalable, Legally Available

Answer 19

Characteristics of a Good Brand Name:

Question 20

Easy to remember and recognize.

Answer 20

Memorable

Question 21

Stands out from competitors.

Answer 21

Unique

Question 22

Reflects the business, product, or industry.

Answer 22

Relevant

Question 23

Avoids confusion

Answer 23

Simple & Easy to Pronounce

Question 24

Can grow with the business.

Answer 24

Scalable

Question 25

Not trademarked by another company.

Answer 25

Legally Available

Question 26

Starts with the formulation of a brand name for the first single product that the business intends to make. The situation becomes more complicated when the business starts to offer an additional product.

Answer 26

BRANDING STRATEGY

Question 27

Is a long-term plan for developing a strong brand identity that resonates with customers and builds loyalty. It includes the elements, messaging, and positioning that differentiate a business in the market.

Answer 27

BRANDING STRATEGY

Question 28

Brand Identity, Brand Positioning, Target Audience, Brand Personality, Brand Story, Marketing & Communication, Customer Experience

Answer 28

Key Components of a Branding Strategy:

Question 29

The visual and verbal elements that define the brand, including the logo, colors, typography, and tagline.

Answer 29

Brand Identity

Question 30

How the brand is perceived in the market compared to competitors. It answers the question: What makes your brand unique?

Answer 30

Brand Positioning

Question 31

Understanding who the customers are and tailoring the brand message to their needs and preferences.

Answer 31

Target Audience

Question 32

The brand’s tone, voice, and character (e.g., fun, professional, luxurious, eco-friendly)

Answer 32

Brand Personality

Question 33

The narrative that connects emotionally with customers, including the company’s mission, vision, and values.

Answer 33

Brand Story

Question 34

How the brand is promoted through advertising, social media, influencers, and other channels.

Answer 34

Marketing & Communication

Question 35

Ensuring consistent quality and service to build trust and loyalty.

Answer 35

Customer Experience

Question 36

A marketing strategy where a single brand name is used for a range of products or services. This creates unified identity across the entire product line, often emphasizing a shared value proposition, quality or reputation. Benefits: Brand Recognition, Marketing Efficiency, New Product launches, Brand Extension

Answer 36

Umbrella Brand Approach

Question 37

Company's practice of selling products under its own brand name, rather than under a manufacturer's or third-party label. This strategy is commonly used by retailers and large companies to create exclusive, cost-effective alternatives to well-known brands. Benefits: Brand Recognition, Marketing Efficiency, New Product launches, Brand Extension

Answer 37

House Brand Approach

Question 38

The level or degree of the consumer’s perceptions or reactions to a brand is technically known as brand equity. When the level is high or when the perception of the consumers is favorable to the brand , the brand equity is considered positive. Entrepreneurial ventures with high positive brand equity are capitalizing or leveraging on such concept.

Answer 38

Branding Extension Strategy

Question 39

Line Extension Approach and Product Extension Approach

Answer 39

Two approaches in branding extension strategies

Question 40

In this, the existing product has been modified or altered resulting in new product or more products without eliminating the original product. The new additional product must be within the same category.

Answer 40

Line Extension Approach

Question 41

In this product extension approach a new product carries the brand name in a new category. The new or added product appears to be totally different from the old or existing product line.

Answer 41

Product Extension Approach