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Exam (elaborations)

Brand Management Final Exam UPDATED Exam Questions and CORRECT Answers

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  • Brand Management

Brand Management Final Exam UPDATED Exam Questions and CORRECT Answers brand - CORRECT ANSWER- "a name, term, sign, symbol, design, or combination of them which is intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of competito...

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  • August 23, 2024
  • 12
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • Brand Management
  • Brand Management
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MGRADES
Brand Management Final Exam
UPDATED Exam Questions and
CORRECT Answers

brand - CORRECT ANSWER- "a name, term, sign, symbol, design, or combination of them
which is intended to identify the goods and services of one seller or group of sellers and to
differentiate them from those of competitors


branding - CORRECT ANSWER- the process of using brand elements (e.g., name, symbol,
design) to differentiate goods/services by providing distinct images, associations, and
experiences related to the offerings and firms


brand image - CORRECT ANSWER- the sum of a consumer's perceptions and feelings of a
brand


brand elements - CORRECT ANSWER- logo, symbol, color, typeface, and graphic design.
Consistently used to build a unique identity


brand equity - CORRECT ANSWER- the power of a brand lies in what consumers know
about a particular brand


brand personality - CORRECT ANSWER- human characteristics associated with a brand


brand salience - CORRECT ANSWER- consumers' abilities to recognize, or have awareness
of, any particular brand


merchantainment - CORRECT ANSWER- the entertainment aspect associated with wearing
fashion brands


merchandising - CORRECT ANSWER- involves sourcing products, producing products,
distributing products, selling products through retailing or wholesaling


consumer brand - CORRECT ANSWER- brands for consumer use

, industrial brand - CORRECT ANSWER- brands working in business-to-business


private brand - CORRECT ANSWER- produced by one entity and offered to consumers only
through channels controlled by the entity


brand v. brand credibility - CORRECT ANSWER- brand: name, term, symbol, or any other
feature that identifies one seller's goods
brand credibility: believability of the product position information contained in a brand which
entails consistently delivering what is promised; trustworthiness and expertise


retailing v. wholesaling - CORRECT ANSWER- retailing: selling of goods to ultimate
consumers for personal or household consumption
wholesaling: sale and distribution of goods to retailer or industrial, commercial, institutional
or other professional businesses


consumers, purchasers, shoppers - CORRECT ANSWER- - consumers: members of the
general population or specifically identified groups of potential and real purchasers or used of
goods or services
- shoppers: individuals who shop in the store
- purchasers: those who engage in a sales transaction and acquire goods or services they
intend to use


4 consumer groups: baby boomers, generation x, generation y, the grey market - CORRECT
ANSWER- - baby boomers: born 1946-1964. largest and most influential group of
consumers. work centered, goal oriented, large amounts of flexible income
- gen X: 1965-1980. smallest consumer group
- gen Y: 1980-onward. Willing to try new products. Mostly targeted bu fashion and retail
professionals
- the grey market: born before 1945. having money to spend.


Innovators - CORRECT ANSWER- (5%) - actively seek out new products


Early Adopters - CORRECT ANSWER- (10%) - fairly readily embrace new products

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