chapter 5

Question 1

Brand

Answer 1

a name, term, design, symbol, or any other feature that identifies one seller’s good or service as distinct from those of other sellers.

Question 2

brand elements

Answer 2

The elements used to identify a brand, including its name, symbol, package design, and any other features that serve
to differentiate that brand’s offering from competitors’.

Question 3

A firm’s brand equity often represents

Answer 3

a substantial portion of a firm’s overall value.

Question 4

brand equity

Answer 4

A set of brand assets and liabilities linked to a brand, its name, and symbol that add to or subtract from the economic value provided by a firm’s offering and relationships. ““lies in the mind of the customer,” which means that it is difficult for competitors to copy it, adding to the sustainability of brand-based barriers.

Question 5

associative network memory model

Answer 5

argues that the human mind is a network of nodes and connecting links. The key characteristics of a brand, which influence its brand equity, are captured as nodes and linkages.

Question 6

brand awareness or familiarity

Answer 6

The ability of a customer to identify a brand indicated by how recognizable the elements associated with the brand are.

Question 7

brand image

Answer 7

Customers’ perceptions and associations with the brand are represented
by the links of brand name node to other informational nodes in the model.

Question 8

benefits of building brand equity

Answer 8

improve a firm’s sales, reduce its costs, and make it more difficult for competitors to encroach on the firm’s business.

Question 9

Most benefits of strong brands are associated with three general areas

Answer 9

sales growth, profit enhancement, and loyalty effects.

Question 10

behavioral loyalty

Answer 10

Strong brands also generate repeat or habitual purchase behaviors which can be reinforced by high brand awareness

Question 11

true loyalty

Answer 11

Loyalty that is manifested in consumers’ positive feelings and action

Question 12

spurious loyalty

Answer 12

Loyalty that is manifested in ambivalent or negative feelings.
then at the first convenient opportunity, they will switch

Question 13

latent loyalty

Answer 13

Loyalty generated when customers express positive attitudes but fail to actually buy a firm’s products. It arises due to a lack of access or prices beyond people’s means.

Question 14

brand positioning

Answer 14

reflects how and where the firm hopes to appear in customers’ minds

Question 15

brand objectives

Answer 15

Describe what the brand needs to accomplish as a performance outcome, such as driving customer acquisition or generating a price premium by establishing a perception of status.

Question 16

brand awareness

Answer 16

Describes the firm’s desired level of recognition, as demonstrated by target customers’ ability to recall the firm’s brand name.

Question 17

brand relative advantage

Answer 17

Captures the brand’s points of difference, or the key ways it differs from its competition.

Question 18

brand sustainability

Answer 18

How the brand is going to maintain its relative advantage over time, by generating an exceptionally high level of awareness among difficult-to-reach decision makers or maintaining a tough-to-achieve but strong image that matches targeted customers’ self-identity.

Question 19

brand associations

Answer 19

Describes the specific words, colors, logo, fonts, emotions, features, music, smells, people, animals, or symbols that are linked to a brand.

Question 20

brand identity

Answer 20

Pulls it all together and describes who the brand is.

Question 21

points of difference

Answer 21

The key ways a brand differs from its competition.

Question 22

points of parity

Answer 22

The aspects of the brand that may not be unique but still are required by customers in the target market.

Question 23

brand architecture

Answer 23

The rationale and structure among the firm, its products, and brand/product extension

Question 24

house of brand architecture

Answer 24

A branding style where a firm focuses on branding each major product with its own unique set of brand elements.

Question 25

branded house architecture

Answer 25

A branding style that uses a single set of brand elements for all products and services provided by the firm.

Question 26

endorsed brand strtegy

Answer 26

A strategy that suggests the approval and imprimatur of the brand. -Many individual brands are linked to an endorsing brand to produce a supportive foundation

Question 27

sub-brands strategy

Answer 27

A strategy that assigns some major product categories. Sub-brands have a closer link to the parent brand than endorsed brands but behave similarly

Question 28

brand extension

Answer 28

A new brand offering that is in the same product/ service category but targets a different segment of customers

Question 29

brand line extension

Answer 29

A new brand offering that is in the same product category but targets a different segment of customers, usually with a slightly different set of attributes (often termed “line extensions”).

Question 30

brand category extension

Answer 30

the new offering moves to a completely different product category.

Question 31

vertical extensions

Answer 31

The planned process where a firm changes an offering’s price and performance positioning over time (moving up or down market).

Question 32

three steps to building brand equity

Answer 32

1. building a high level of brand awareness 2. links the brand name to the brand’s points of parity and difference 3. building a deep emotional connection or “relationship” between the brand and targeted customers.

Question 33

integrated marketing communications

Answer 33

The process of designing and delivering marketing messages to customers while ensuring that they are relevant and consistent over time and channels.

Question 34

advertising

Answer 34

communications that businesses use to persuade customers to act, think, or recognize in ways favorable to their firm.

Question 35

sales promotion

Answer 35

any action a firm takes to promote sales, usage, or recognition of its products or services.

Question 36

influencer marketing

Answer 36

relying on an individual who influences others’ behavior or thinking, so that they buy the product or service.

Question 37

public relations

Answer 37

“a strategic communication process that builds mutually beneficial relationships between organizations and their publics.

Question 38

events and experiential marketing

Answer 38

positive experiences for customers through events that support face-to-face contacts

Question 39

direct and interactive marketing

Answer 39

Direct marketing funnels information about goods and services straight to customers, without any mediation, using channels such as mail, television, or telemarketing. - interactive form of marketing is more focused on the desires of unique customers, so it increases the possibility of a sale. It also enables the firm to appeal to as many market niches as possible

Question 40

WOM marketing

Answer 40

dissemination of information by individual customers to build a firm’s or product’s reputation and generate sales

Question 41

attention

Answer 41

The process of taking notice of someone or something based on interest and importance.

Question 42

attitudes

Answer 42

The settled way of thinking about someone or something based on personal characteristics.

Question 43

intentions

Answer 43

An aim or a plan to take some action, frequently used in the context of purchasing in marketing.

Question 44

behave

Answer 44

the way in which consumers conduct themselves, frequently studied in the contexts of pre-purchase, purchase or post- purchase in marketing.

Question 45

brand audit

Answer 45

evaluates the brand’s health to understand its strengths and weaknesses. In turn, it provides a foundation for designing and implementing a new brand strategy.

Question 46

qualtitative analysis

Answer 46

less structured and features smaller samples. It is best used early in a research process. A method that helps the firm refine its ideas with smaller samples

Question 47

quantitative analysis

Answer 47

A method designed to test theories and ideas, using data and specific analysis techniques.

Question 48

brand metrics

Answer 48

A measure that provides a nuanced way to measure brand characteristics.