Marketing Exam 2 Study Guide

Exam 2 Study Guide 1. What are the two functions of a brand? a. identify and differentiate b. locate and determine c. market and recruit d. compete and improve 2. What are the two parts that make up a brand? a. Brand Label and Brand Price b. Brand Product and Brand Name c. Brand Price and Brand Issue d. Brand Name and Brand Mark 3. Seeing a brand can cause consumers to automatically think of the attributes of the firm. a. True b. False 4. A "brand" is confined to the physical name or logo associated with the firm. a. True b. False 5. The primary value of a brand for consumers is the: a. Reduction of perceived risk b. Association with target groups c. Ability to compare prices d. Definition of corporate social responsibility 6. The brand resides in the consumer’s: a. Conversations b. Peer group c. Desired associations d. Memory 7. What is Spreading Activation? a. When nodes are energized and brought into working memory b. The creation of new nodes c. When consumers spread brand knowledge through conversation d. An external cue 8. When does activation occur? a. With only external cues b. With either external or internal cues c. With only internal cues d. With social media-based marketing 9. Addi is driving from Stillwater to Dallas, and sees a McDonald’s sign with golden arches (but no words). She automatically begins to think of her hunger. What kind of cue activated this thought. a. Internal cue b. Coercive cue c. External cue d. Detrimental cue 10. Brand awareness is associated with the ability of the brand to ______ who is offering a product or service, while brand association is associated with the ability of the brand to ______ from competitors. a. Identify; differentiate b. Differentiate; identify c. Respond; attack d. Separate; connect 11. Which of these is not a type of brand association? a. Brand memories b. Brand attributes c. Brand benefits d. Brand attitudes 12. Automaticity in branding context means: a. Initial evaluation of a brand is made automatic and efficient b. A consumer’s conscious decision to memorize aspects of a brand c. The automatic reaction of consumers to a brand they have never encountered d. The evaluation of a brand is brought to either conscious or subconscious thought 13. A way of visually presenting where your brand is in consumer’s minds is called a: a. Brand attribute b. Brand association c. Brand recognition d. Brand map 14. Brand associations within a brand map can also have ____ attached to them. a. Price b. Mood and emotion c. Organization d. Affiliation 15. A brand map determines brand associations from the perspective of the: a. Consumer b. Competitor c. Management d. Board of Directors 16. When creating a brand map, a word cloud is always more useful than a table. a. True b. False 17. The added value delivered by the brand over the functional benefits or book value is called: a. Brand evaluation b. Brand recognition c. Brand equity d. Brand interest 18. Book value of assets + Brand equity = a. Price of brand b. Consumer share of brand c. Market share in industry d. Market value of brand 19. Brand equity starts as a _____ concept, but ends up having a real ____ effect a. Psychological; monetary b. Monetary; psychological c. Potential; realized d. Inconclusive; meditated 20. The “magic lesson” teaches us how to turn what into dollars? a. What consumers know about the brand b. How competitors adjust in response to the brand c. Negative reputation of the brand or firm d. The price of bestselling products 21. Which of these is not a way to turn brand equity into dollar value? a. Word of mouth b. Price competition c. Brand Extension d. Licensing 22. If Oreo cookies come out with a new flavor of s’mores Oreo cookies, what are they using in order to turn brand equity into dollars? a. Word of mouth b. Licensing c. Promotional Advantage d. Product purchase 23. The example of the purchase of the PanAm brand demonstrates how: a. Brands are worthless assets as collateral b. Brands can have value beyond the book value of the firm c. Promotional advertising can save a business d. Brands are unable to expand past their original industries 24. An agreement whereby a company permits another organization to use its brand on other products for a fee is defined as: a. Joint venture b. Brand Addition c. Franchising d. Brand licensing 25. The brand name must provide ______ meaning for the product. a. Primary b. Secondary c. Tertiary d. Institutional 26. Which of these is not a branding strategy? a. Franchise Branding b. Individual Branding c. Institutional Branding d. Sub-branding 27. Unilever houses many brands, such as SlimFast nutrition drinks, Dove soap, and Skippy peanut butter, that all sell different products. What branding strategy is used here? a. Individual Branding b. Institutional Branding c. Sub-branding d. Umbrella branding 28. Which of these is not a benefit of individual branding? a. Development of additional brand assets b. Protection against negative spillover effects c. Strong connections to established brands for new brands to lean on d. Strategic degrees of freedom 29. Which of these is not a benefit of institutional branding? a. Marketing power in the marketplace b. Lower promotional costs c. Greater individualized identity for new products d. Enhancement of positive spillover 30. Which of these companies is more likely to use an institutional branding strategy for a new product or service? a. Sony b. Procter & Gamble c. ServiceMaster d. Nestle