Marketing Study Set 20

Business

Quiz 14 :

Branding

Quiz 14 :

Branding

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Private label brands are often positioned as a lower cost alternative to well-known manufacturer brands.
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True False
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True

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The BrandAsset Valuator suggests that brand equity is based on four dimensions: brand loyalty, brand image, brand marks, and brand message.
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True False
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False

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A consumer's ability to identify the brand under a variety of circumstances is referred to as brand recall.
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True False
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True

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Manufacturer brands are also referred to as store brands.
True False
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The phrase Finger Lickin' Good is a brand mark for Kentucky Fried Chicken (KFC).
True False
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A brand's message should be easy to remember and remind consumers about the product attributes they care about most.
True False
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Betty Crocker produces a boxed brownie mix that features Hershey's chocolate. This is an example of rebranding.
True False
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Rebranding is a strategy to recapture lost sources of brand equity and identify and establish new sources of brand equity.
True False
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Brand image is the unique set of associations target customers or stakeholders make with a brand.
True False
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As an alternative to extending its brand through new product development, a firm can choose to increase its own brand equity by leveraging the equity of another brand using a co-branding strategy.
True False
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Brand equity facilitates a brand's expansion into new markets.
True False
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As a form of advertising, packaging does very little to promote the brand.
True False
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Brand-loyal customers typically exhibit less sensitivity to price.
True False
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The benefit of co-branding is that if one of the brands involved receives negative publicity, it usually doesn't affect the other brand in any way.
True False
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Both Walgreen's and CVS have developed their own versions of products such as allergy medication, pain relievers, and cold remedies. Each retailer developed the products and they are sold only in their own stores. These types of products are referred to as private label brands.
True False
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Revitalization of a brand often begins with an investment in rebuilding trust with consumers.
True False
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A successful brand adds value to organizations through loyal customers and recognizable goods and services, both of which lead to more revenue for the firm.
True False
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Cannibalization occurs when existing products take sales away from new products the firm is trying to promote.
True False
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Brand equity is the value derived from the sale of a product.
True False
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Jack Daniel's, best known for its Tennessee whiskey, now has a barbeque sauce that uses the Jack Daniel's name. This is an example of a product extension.
True False
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