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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?
Brands date as far back as
___ 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.
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.
T/F: people can be brands
T/F: a brand manager acts as the CEO of a brand
T/F: of the 17 brands that make up the Ralph Lauren Corp., most have Raplh's names/initials in the name.
T/F: brand image is the image the customer has of a brand as a result of exp w/product performance, brand, communications, & writing
T/F:Branding is a huge business that has grown much in the past 20 yrs
T/F: strong brands have 2 or 3 hyper-focused ideas behind them
T/F: brands are primarily built through product features & upgrades
List three reasons why a price-based system works more efficiently than central planning.
Sleepwalking occurs in stage $\_\_\_\_\_\_\_\_\_\_\_$ sleep, whereas nightmares occur in stage $\_\_\_\_\_\_\_\_\_\_\_$ sleep. a. N1; N2 c. N2; N1 b. R; N3 d. N3; R
**Conversions with Square and Cubic Units.** Find a conversion factor between square feet and square inches. Write it in three forms.
In planning a trip to New Zealand six months in advance, you find that an airline offers two options: - Plan A: You can buy a fully refundable ticket for $\$ 2200$. - Plan B: You can buy a $\$ 1200$ ticket, but you forfeit 25\% of the price if the ticket is changed or canceled. Describe your options in the events that you do and do not make the trip. How would you decide which ticket to buy?
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