Brand Management Final Exam UPDATED Exam Questions and CORRECT Answers
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Course
Brand Management
Institution
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...
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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