Business 530 - Marketing Management » Winter 2023 » Chapter 07 Brands

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Question #1
In the marketing framework, "branding" refers to______.
A.   associating a product with a unique portfolio of qualities
B.   segmenting within a population of consumers
C.   identifying a unique niche market
D.   diversifying a unique product line
Question #2
Brand building is based fundamentally on the predictability of the item being purchased.
A.   True
B.   False
Question #3
Risk is a measure of reliability.
A.   False
B.   True
Question #4
In branding of products and services, which of the following indicates the difference between reliability and variability?
A.   Reliability implies a product's consistency, while variability implies a product's inconsistency.
B.   Reliability deals with perishable services, while variability deals with imperishable goods.
C.   Reliability deals with intangible products, while variability deals with intangible services.
D.   Reliability implies the experience attributes of a product, while variability implies the search attributes of a product
Question #5
Which of the following is the reason for the existence of knock-off products of prestigious brands?
A.   These products satisfy quality standards.
B.   Risk of choice associated with these products is low.
C.   These products have high performance predictability.
D.   These products serve as status symbols.
Question #6
Which of the following types of companies is most likely to offer branded services?
A.   A training institution
B.   An insurance firm
C.   A consultation agency
D.   An airline
Question #7
If customers are willing to pay premium prices for brands they value, they are less price sensitive.
A.   False
B.   True
Question #8
Which of the following examples should be categorized at the bottom of a brand value hierarchy?
A.   Ruby, a brand of lip balm, is less expensive than the other competing brands in the market.
B.   Capello, a lip balm brand, plans to introduce strawberry flavored lip balms.
C.   Droopy is a brand of lip balm that can be used as a pain relief balm on cuts and minor burns.
D.   Drumstick, a brand of lip balm, uses vitamin E in its lip balms.
Question #9
When customers' passion for a certain brand brings them together with other like-minded customers, _____ are formed.
A.   co-brands
B.   brand equities
C.   brand extensions
D.   brand communities
Question #10
In an umbrella branding approach, firms ______.
A.   attach the same brand name for every major product line
B.   unite with firms from a different industry to brand a product line
C.   introduce a new brand name for every major product line
D.   unite with firms from the same industry to brand a product line
Question #11
In the _____ strategy, firms give a unique brand name to every major product line.
A.   house of brands
B.   brand extension
C.   product line extension
D.   umbrella brand
Question #12
_____ is the strategic use of a brand's equity, in which the marketer leverages the brand's good name to get customers to buy something new.
A.   Brand extension
B.   Ingredient branding
C.   Co-branding
D.   Store branding
Question #13
Typically in brand extensions, the firm's name has to be leveraged in the same product category.
A.   True
B.   False
Question #14
_____ is a primary form of co-branding in which one of the companies and its product is the primary host, and the other company and its product add value to the host product.
A.   Ingredient branding
B.   Umbrella branding
C.   Global branding
D.   A house of brands
Question #15
Ingredient branding implies symmetry between two brands, whereas in co-branding, one brand dominates the other.
A.   True
B.   False
Question #16
The basic idea in brand valuation is to derive measures that translate as best as possible into a financial vocabulary.
A.   True
B.   False

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