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Ch. 1: Business of Brands

Terms in this set (15)

According to the chapter, who ultimately decides what the brand means or doesn't mean in consumers' lives?
the consumers
Brands date as far back as
578 AD
___ is the percentage of all sales in the product category that your brand achieved
Brand market share
this is the expression of a brand through name, logo, colors, etc.
brand identity
what does the ch. present on the topic of building brands?
brands can make bold promises when the wants and needs of consumers are understood.
what is the example used in the ch. to describe the difference b/w a product & a brand?
tap water is a product;the freshness promised in Evian is a brand
According to the chapter, when did people behgin asking how to quantify the value of a brand? why?
1980s; companies & investors began consolidating brands
T/F apple has been the most valuable brand every year since 2013, according to Interbrand.
True
T/F: people can be brands
True
T/F: a brand manager acts as the CEO of a brand
True
T/F: of the 17 brands that make up the Ralph Lauren Corp., most have Raplh's names/initials in the name.
True
T/F: brand image is the image the customer has of a brand as a result of exp w/product performance, brand, communications, & writing
True
T/F:Branding is a huge business that has grown much in the past 20 yrs
True
T/F: strong brands have 2 or 3 hyper-focused ideas behind them
FALSE
T/F: brands are primarily built through product features & upgrades
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