Test 1 Ch 3

Question 1

True or False: “Brand value” refers to a company’s annual revenue and profits

Answer 1

False

Question 2

Apple having $260 billion in revenues and a company worth of $2 trillion is an example of ____.

Answer 2

Brand Value

Question 3

CLV stands for ____.

Answer 3

Customer Lifetime Value

Question 4

True or False: If you love Nike and purchase a new pair of Nike shoes every year, it is reasonable to assume the Nike “brand” has impacted CLV.

Answer 4

True

Question 4

Brands can create a lot of value by developing new ____. (Choose the best answer.)

Answer 4

Both categories and subcategories

Question 5

True or False: Valuable brands are intentional and internally driven.

Answer 5

True

Question 6

Someone thinking of Chick-fil-A when thinking of chicken sandwiches is an example of ____. (Choose the best answer.)

Answer 6

Brand positioning

Question 6

True or False: You have to be aware of a brand, product, or service before you can purchase it.

Answer 6

True

Question 7

True or False: Brand identity is important because it impacts our senses and emotions.

Answer 7

True

Question 8

Heinz ketchup may be your favorite, but if a competing brand is cheaper, you’ll buy it. This is an example of ____.

Answer 8

Brand preference

Question 9

True or False: Brand architecture refers to the way a company organizes its portfolio of brands, products, and services in a consistent and cohesive way.

Answer 9

True

Question 10

True or False: A line extension refers to a brand moving into an entirely new category

Answer 10

False

Question 11

Harley Davidson selling branded perfume is an example of ____. (Choose the best answer.)

Answer 11

A brand extension