The Brand as a Means of Creating Market Value (Chapter 3) - What are your thoughts on the below scenarios?

1.The same brand can create different value for different customers.

True

False

2.What are the different types of customer value created by a brand?

(List the three types of customer value)

1.

2.

3.

3.What are the different ways in which a brand can create functional value for customers?(Check all that apply)

A. Identifying the company's products and services

B. Signaling product performance and service quality

C. Changing the ways in which customers experience the product or service

D. Enabling the company to charge higher prices for its offerings

4.What are the different ways in which a brand can create psychological value for customers?(Check all that apply)

A. Evoking an emotional response to the company and its offerings

B. Enabling people to express their identity

C. Conveying a sense of moral satisfaction from contributing to the society

5.What are the different ways in which a brand can create monetary value for customers?(Check all that apply)

A. Informing customers about the prices of the company's offerings

B. Enabling customers to charge higher prices for the branded offering in the secondary market

C. Making a company's offerings more affordable for customers

6.What are the different ways in which a brand can create value for the company's collaborators?(Check all that apply)

A. Increasing customer demand

B. Strengthening collaborator brands

C. Generating incremental revenues

7.What are the different ways in which a brand can create strategic value for the company?(Check all that apply)

A. Increasing customer demand

B. Increasing the effectiveness of the company's communications

C. Increasing the effectiveness of the company's distribution

D. Increasing perceived product performance

E. Ensuring greater collaborators support

F. Facilitating the recruiting of skilled employees

G. Enhancing corporate culture and increasing employee loyalty

8.What are the different ways in which a brand can create monetary value for the company?(Check all that apply)

A. Generating incremental revenues and profits

B. Increasing the valuation of the company

C. Creating a separable company asset

D. Lowering labor costs

9.What are the key elements of a brand's strategy?(Check all that apply)

A. Target market

B. Target customers

C. Customer value proposition

D. Collaborator value proposition

E. Brand name

F. Brand endorsers

G. Competitors

10.What are the key elements of a brand's tactics?(Check all that apply)

A. Brand character

B. Brand name

C. Brand logo

D. Brand communication

E. Brand motto

F. Product design

11.What is the primary way in which a brand creates customer value?(Select one)

A. By creating functional value

B. By creating psychological value

C. By creating monetary value

12.What are the different types of self-expressive brands?(Check all that apply)

A. Status brands

B. Luxury brands

C. Personality brands

D. Professional brands

13.What are the different ways in which brands amplify the impact of an offering on customers?(Check all that apply)

A. By enhancing the product and service experience

B. By increasing customer willingness to pay

C. By strengthening customers' response to the company's incentives

D. By increasing the effectiveness of a company's communications

E. By increasing customers' willingness to extend effort to obtain and use the company's offering

14.Brand equity is the ability of a brand to influence customer behavior.

True

False

15.What is brand power?(Select one)

A. The monetary value of a brand to the company

B. A premium placed on the company valuation because of the ownership of the brand

C. A brand's ability to influence the market behavior of target customers, company collaborators, and company employees

D. A brand's ability to increase consumers' willingness to pay

16.What is the relationship between brand equity and the accounting term "goodwill"?

A. The two terms mean the same thing

B. Goodwill is broader than brand equity and includes factors other than brand equity

C. Brand equity is broader than goodwill and includes factors other than goodwill

17.What is the relationship between brand equity and brand power?(Check all that apply)

A. Brand equity is the cause and brand power is the effect

B. Brand power is the cause and brand equity is the effect

C. Brand power and brand equity are unrelated to each other

18. Brand equity and brand power are directly related, such that greater brand power naturally leads to greater brand equity and vice versa.

True

False

19.If Brand X has greater power than Brand Y, can Brand Y have greater equity than Brand X?(Select one)

A. Yes

B. No

20.What are the key methods for measuring brand power?(Check all that apply)

A. Measuring brand choice

B. Measuring brand usage

C. Measuring brand advocacy

D. Measuring brand equity

21.How does the cost method measure brand equity?(Check all that apply)

A. By assessing all relevant historical expenditures involved in creating and building the brand

B. By assessing the monetary expense of rebuilding the brand at the time of valuation

C. By assessing the difference between the sales revenues of a branded offering and the sales revenues of an identical unbranded offering, adjusted for the costs of building the brand

D. By assessing the net present value of a brand's future earnings

22.The market approach for assessing brand equity is particularly useful for companies using an umbrella-branding strategy, where a single brand is used across diverse product categories.

True

False

23.A key challenge in using the financial approach involves the difficulty of separating the cash flow attributable to the brand from the cash flow attributable to nonbrand factors that contribute to the company's market success.

True

False