BUAD307 Final Exam Questions With
Correct Answers
Brand equity - answerFoundational core, company's most valuable asset
Truths of Brand Equity - answerIt is an art
Separates brand from products
Explains its value, roadmap of building it
Positioning Statement - answerBlueprint of brand equity
...
BRIGHTSTARS EXAM STUDY SOLUTIONS 8/15/2024 2:05 PM
BUAD307 Final Exam Questions With
Correct Answers
Brand equity - answer✔✔Foundational core, company's most valuable asset
Truths of Brand Equity - answer✔✔It is an art
Separates brand from products
Explains its value, roadmap of building it
Positioning Statement - answer✔✔Blueprint of brand equity
Brand scorecard
Keller's Brand Equity Model - answer✔✔1. Salience: Identity (Who are you?) - Bottom
2. Performance & Imagery: Meaning (What are you?)
3. Judgments & Feelings: Response (What about you?)
4. Resonance: Relationships (What about you and me?) - Top
Brand Positioning - answer✔✔Brand owner's most important thinking and foundation of success
Do not leave without - answer✔✔Brand positioning
Company values
Competition-Based Positioning Triangle - answer✔✔1. Establish a category
2. Point of difference
3. Point of difference
Circles for a Successful Value Proposition - answer✔✔Competitive offering
Customer needs & wants
Company Offering
Points of parity and points of difference
,BRIGHTSTARS EXAM STUDY SOLUTIONS 8/15/2024 2:05 PM
Mapping Tools - answer✔✔Perceptual vs. Positioning maps
Perceptual Maps - answer✔✔Visual representation of consumer perceptions or potential
customers about specific attributes of an organization, brand, product, service, or idea
Stand alone tool that provides a brand of marketing insights
How consumers perceive the positioning of brands
Relevant to category dynamics and/or customer benefits
Positioning Map - answer✔✔Shows where existing products and services are positioned in the
market, so the firm can decide where to place their product
Shows the positioning of brands as measured objectively
Considered current positioning with future focus on goals
Need to be used and developed in conjunction with perceptual maps
Mapping Tools Generally - answer✔✔Test where unmet customer needs potentially exist
Identify where competitors might be vulnerable
Insights into how an under performing might be repositioned
Positioning Answers 4 Key Questions - answer✔✔1. who is the garnet audience and what are
their goals? who is the product for?
2. what are your product service brand attributes that define the space? what does the product do
for your audience that is unique/better than competitive offerings?
3. what is your target market's ideal combination of attributes?
4. what is your target market's ideal combination of differentiators?
Positioning Now - answer✔✔Concise statement that defines a brand's reason for being in the
minds, hearts and souls of its consumers
Concept, idea, belief, truth
Platform upon which other brands activity is built
Passion & purpose live it on the inside before sharing it outside
Criteria for Evaluating Positioning Statement - answer✔✔Is it memorable, motivating and
focused to the core personas?
Does it provide a clear, distinctive and meaningful picture of that brand that differentiates it from
competition?
Can the brand own it?
, BRIGHTSTARS EXAM STUDY SOLUTIONS 8/15/2024 2:05 PM
Is it credible and believable?
Does it enable growth?
Does it serve as a filter for brand decision making?
Implementing a Positioning Strategy - answer✔✔1. Product/Service Strategy: product features,
product objectives, branding strategies
2. Distribution Strategy: channel objectives, channel management strategy, channel
type/design/intensity
3. Price Strategy: pricing objectives, pricing tactics
4. Sales Force Strategy: role and objective of sales force, required sales force training, support &
management
Rebranding vs Repositioning - answer✔✔Rebranding: outside, identity change involving looks
and aesthetics
Repositioning: inside, change in brand's promise and overall personality
Driving Factors of Repositioning - answer✔✔Downward trends in sales, shrinking core
audience, industry shakeups, disconnect between marketing messaging and desires expressed
customers, lack of brand appeal to younger generations, need to pivot away from brand
confusion on negative associations
Old Spice - answer✔✔Core Campaign: clearly defined objectives, sales and brand
image/perception changes, well defined targets (men and women synergy), clear & crisp creative
brief
Creativity: simple but powerful creative idea with male and female appeal
Executional brilliance and great casting, high profile launch (Super Bowl)
Activation: listening and rapid response, personal connections & personalized responses, short
and snappy videos, integrated and coordinated with entire campaign
Digital Transformation Mindset Shift - answer✔✔Data driven marketing, marketing research,
agile marketing
Collecting and storing + analyzing + interpreting + decision making
Customer understanding and empathy
Marketing Research Process - answer✔✔1. Defining objects and research methods
2. Designing the research
3. Data collection process
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