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Brand Management Practice Test Questions
What are the five stages in strategic brand management? DDMGP dogs dont mind
gay people
1. Developing brand strategy
2. Designing and implementing brand marketing programs
3. Measuring and interpreting brand performance
4. Growing and sustaining brand equity
5. Protecting brand equity
How do you develop a brand strategy (is a long-term plan for the development
of a successful brand in order to achieve specific goals)? 4 things, cant
brand bitches boobs
o Customer based brand equity
o Brand positiiong
o Brand resonance
o Brand value chain
What’s the definition of a brand? How do you create a brand?
o A brand is a name, term, sign, symbol, desing, or combination indicated to
identify differences in a product offered by group or groups in comparison to
competitiors
Why was the “New Coke” a fail?
Why are brands important to consumers? Give two reasons and explanations.
o RIPS
o Risk reducer
o Indication of prodcut source
o Promise or pact with producer
o Search cost reducer
o Symbolic
Why are brands different from products? Chart
o Offering Product brand
o Product is generic and competitively based on price where brand has more
meaning to consumer, symbolism, trust, etc
What are some brand naming strategies?
Place person thing
Why are brands important to firms?
o Reduce risk,
o Financial returns
, o Reputation
o Leagl protection of unique features
o Competitieve advantage
What can be branded?
o Virtually anything
o Resides in consumer mind
What is the concept of brand equity?
o Illustration of brand power
o Interpret potential effects of brand strategies
o Basic principles of branding and brand equity
o Differneces and outcomes arise from added value from past marketing advaces
o Value created in many different ways
o BE provides common denominator for interpreting marketin strategies and
assses value
What does brand equity do? And where does it come from?
o
What are the 4 steps in strategic brand management process? How do you
complete the steps?
o IPMG
o Identify and establish brand positioning and values
o Plan and implement brand marketing programs
o Measure and interpret brand performance bbbb
o Grow and sustain brand equity bbbb
DEVELOPING BRAND STRATEGY
CBBE, BRAND POSITIONING, AND BRAND PLANNING SYSTEM
What are the two fundamental questions of CBBE?
o What do consumers think about different brands?
o How does consumers brand knowledge affect their response to marketing activity
What is customer-based-brand-equity? From what perspectives brand equity can
be approached?
o Individual, organizational, current, potential
o CBBE transpirse when a consumer has high brand awareness and familiarity
with a brand and strong, gavorable, unique associatiosn in memory
Define CBBE 7 marks
o The differentiating effect that brand knowledge has on consumers responses to
marketing of a brand
o Differentiating effect - brand equity arises from different consumer responses
No difference = generic product that is competitiive based on pirce
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