Professional Documents
Culture Documents
01/01/2023
QUESTIONS:
A.
1. Discuss what is a brand and its different functions.
• A brand is a name given to a good or service that gives it a unique
identity. In return for a strong identity and stronger confidence in its
purpose, a brand helps a product stand out from competing items of a
similar nature and allows it to command a higher price. Additionally, a
brand has a higher chance of success than a typical value.
3. Discuss what is brand equity and its role in measuring brand strength.
• A brand's value is often referred to by the marketing term "brand
equity." The way consumers perceive and interact with a brand
influences its value. A brand has good brand equity if consumers are
fond of it. Measuring brand equity is advantageous to your business in
many ways and helps in building a strong brand. By using it, you will
have a better understanding of your target market, be able to tailor
your marketing efforts and be able to satisfy the wants of your
customers at every point in the sales funnel.
4. Explain how marketers use brand positioning to align marketing activities
and build successful brands.
• Strengthening brands requires alignment and consistency. An effective
tool for achieving this alignment is brand positioning. It helps you
determine the true meaning of your brand in your eyes. It serves as the
standard for determining which messages and endeavors will best
represent that brand.
8. Discuss the benefits of branding for the consumer, For Product and Service
Providers and for the Retailers.
-Branding can provide several benefits for consumers, product and service
providers, and retailers:
• Consumers:
-A strong brand can help consumers identify and trust a product or service,
which can make them more likely to purchase it.
Brands can also serve as a shorthand for a set of qualities or features that a
consumer may be looking for in a product or service.
Brands can also provide a sense of identity or status for the consumer.
Product and service providers:9. Explain the different types of brands and give
examples of each.
-A strong brand can differentiate a provider's offerings from those of
competitors, which can make it easier to attract and retain customers.
A well-established brand can also help a provider command higher prices for its
products or services.
A strong brand can also help a provider expand into new markets or product
categories.
• Retailers:
-Retailers can benefit from carrying well-established brands because these
brands can drive traffic to their stores and generate sales.
Brands can also provide retailers with a sense of prestige or exclusivity, which
can help them attract customers.
-Retailers can also benefit from the advertising and promotional activities of
brands, which can increase awareness of their store and the products they
carry.
-Overall, branding can act as a key tool for the product and service providers,
the retailers, and the consumers to create a shared understanding of the
features, services and quality of the product or service. Brands allow the
consumers to recognize, remember and trust the products and services and it
helps them to make a well-informed decision.10. Discuss the risks of brand/line
extension.
9.Explain the different types of brands and give examples of each.
There are several different types of brands, including:
• Manufacturer brands: These are brands that are owned and managed by
the manufacturers of the product. Examples of manufacturer brands
include Nike for footwear, Intel for computer processor, Coca-Cola for
soft drinks, Toyota for cars.
• Private labels or store brands: These are brands that are owned and
managed by retailers or stores. They are often considered as a cheaper
alternative to manufacturer brands. Examples include Walmart's "Great
Value" and Target's "Up & Up" products.
• Licensing brands: These are brands that are licensed to another company
or individual for use in the production of goods or services. Examples
include Disney-branded merchandise, such as toys and clothing, and
branded hotels or resorts like Hilton or Marriott.
• Co-brands: These are brands that are developed in partnership between
two or more companies. Examples include co-branded credit cards, such
as the Delta SkyMiles American Express card, and collaborations
between clothing companies such as Adidas x Alexander Wang.
• Endorser brands: These are brands that are associated with a celebrity or
other public figure. Examples include Michael Jordan for Nike's Air
Jordan brand, and Beyonce for Pepsi's brand.
• Heritage brands: These are brands that have been around for a long time
and have a significant history. Examples includes companies like Levi's
for denim, Harley Davidson for motorcycle, Rolex for luxury watches.
• The type of brand will depend on the company's strategies and goals, as
well as the industry in which it operates. Each type of brand comes with
its own set of benefits and challenges and companies need to consider
these when making decisions about branding strategy.
NOTE:
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