Understanding Business
12th Edition
ISBN: 9781259929434
Author: William Nickels
Publisher: McGraw-Hill Education
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7. ______ is the added value endowed to products and services.
Select one:
a. Brand Equity
b. Differentiation
c. Trademarking
d. Branding
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- 1. Branding goes way beyond just a logo or graphic element. Why does business founder willing to invest in a brand? State FOUR (4) answer. 2. A value proposition stands as a promise by a business owner to a customer. Write Examples of the value propositions for the brand below: (a) Volvo (Station Wagon) (b) Top (Laundry Detergent) 3. Strategic brand differentiation is the positioning of your brand against others meaningful way that matters to consumers. Explain on how are brand differentiation strategies work.arrow_forwardA strong packaging and labeling strategy might not seem like an important consideration in branding, however these two go hand-in-hand in developing the product. Which of the following is not one of the considerations in a strong packaging and labeling strategy? O The cost O The benefits O The differentiation O The imagearrow_forwardAnswer this question? 3.Family branding is also known as A.multi-branding B.blanket branding C.co-branding D.b and c onlyarrow_forward
- Based upon the next phase of the process, I learned the following information about brands in my consideration set. The importance ratings indicate how important each attribute is to me with 4 being the highest and1 being the lowest. Importance Maytag Haier Whirlpool Price Quality Style Brand 1 2 5 1 4 4 3 2 4 3 3 4 2 3 * higher numbers mean higher ratings (for price, a higher rating means a lower price) 23. Objectively, just based upon the attribute ratings ONLY, which is the highest-rated refrigerator? Please WRITE your answer in the space for question 23 on your answer sheet. Include the BRAND NAME and the OBJECTIVE score. 24. NOW, taking into account my importance ratings, and assuming a purely compensatory decision model, which brand will I BUY? Please WRITE your answer in the space for question 24 on your answer sheet. Include the BRAND NAME and TOTAL SCORE. 25. Now, suppose I will ONLY buy a refrigerator that has a style rating of AT LEAST 3. Which one will I buy? Please WRITE…arrow_forwardBrand acts as an umbrella for * new products is known as: Combination branding Tiered branding Co-branding Brand extension Red Bull's global messaging strategy revolves around their tagline, "Red Bull gives you wings." It focuses on the idea that their product gives people the "wings" or energy they need to do whatever they want when they want. The of Red Bull is based on Positioning, use Segmentation, behavior Positioning, benefit Segmentation, competitionarrow_forward3. When considering customer satisfaction, the relationship between the consumer's and the product's is important. O information; actual features O alternatives; price O attitude; performance O expectations; perceived performancearrow_forward
- Mangemenrt and Marketing answer with explanation pleasearrow_forward2.Identify a specific brand of your choice from the local market that has developed a high level of brand equity. What specific aspects of that brand establish its brand equity? Critically examine based on the concepts discussed in Chapter-11. (Minimum 150 words)arrow_forward6. Define the four components of a marketing mix. Use either non-commercial foodservice or nutritional services to illustrate your definition. a. Product: In the context of non-commercial foodservice or nutritional services, the product component refers to the actual food items or services offered to consumers. This could include the variety of menu options available, the quality and nutritional value of the food, as well as any additional services such as dietary counseling or meal planning provided by the foodservice establishment. b. Price: Price in this context refers to the cost associated with the food or nutritional services offered. This includes menu pricing for individual items or meal plans, as well as any discounts, promotions, or pricing strategies implemented to attract customers while ensuring profitability for the foodservice provider. c. Promotion: Promotion involves the communication and marketing efforts used to raise awareness and attract customers to the…arrow_forward
- O Medium-involvement products. O Low-involvement products. O High-involvement products. Which products need to be widely available so the customer can pick them up without much thought? O All products. SUBMIT |◄ III + Xarrow_forward19. You prefer superior brands to inferior brands. Given this information, the next time you buy a chocolate bar, you should choose an inexpensive bar to save money. choose the brand with the highest MU/P. choose a superior brand to so you get the best possible bar. I choose to use one of my three skips on this question. choose a medium priced bar to ensure decent quality and prevent being ripped off by expensive brands.arrow_forwardCreate a compelling argument for the organization’s investment in its brand that elaborates on the advantages of branding.arrow_forward
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