Marketing MKT 300 Exam 3 Arizona State University Study Guide and
Practice Questions
What is the connecting point for customers? - correct answer ✔✔ Brand
Brands - correct answer ✔✔ - Are the touch points to consumers
- Promise to deliver specific benefits with products of services to consumers (almost anything
can be branded)
Brand - correct answer ✔✔ a name, term, symbol, design, or combination thereof that
identifies a seller's products and differentiates them from competitors' products
Roles of Branding - correct answer ✔✔ higher perceived quality, price premium, greater market
share, financial strength, brand extensions
Attributes of Strong Brands - correct answer ✔✔ 1 Consistent Brand Message
2 Focus on Long-term growth
3 Manage customer experience
4 Meaningful, memorable, likeable
Brand Equity - correct answer ✔✔ value of a brand based on loyalty, awareness, perceived
product quality, and brand associations
- reflective of long-term trust built by brand in consumers' mind
- indicative of "strength" of brand and brand "fit" with consumers
Things that improve Brand Equity - correct answer ✔✔ - brand name awareness
- brand loyalty
, - perceived brand quality
- brand associations
- brand knowledge
master brand - correct answer ✔✔ A brand that is so dominant that customers think of it
immediately when a product category is mentioned
master brand benefits for the consumer - correct answer ✔✔ -search cost reducer
-signal of quality
-risk reducer
-symbolic device
master brand benefits for the company - correct answer ✔✔ -source of competitive advantage
-predictability and security of demand
-barriers to entry
-financial returns
Marketing and Branding - correct answer ✔✔ - Marketing creates intangible value
- If marketing value / tangible asset > 1 then we've created Intangible Value
- We measure intangible value through Brand equity
Coke Example - correct answer ✔✔ Taking the stock price of Coke, multiplying that by the
shares of Coke and dividing that by Coke's tangible assets = 5
Aaker's five levels of customer attitude toward a brand - correct answer ✔✔ 1. devoted to
brand
2. values the brand
Practice Questions
What is the connecting point for customers? - correct answer ✔✔ Brand
Brands - correct answer ✔✔ - Are the touch points to consumers
- Promise to deliver specific benefits with products of services to consumers (almost anything
can be branded)
Brand - correct answer ✔✔ a name, term, symbol, design, or combination thereof that
identifies a seller's products and differentiates them from competitors' products
Roles of Branding - correct answer ✔✔ higher perceived quality, price premium, greater market
share, financial strength, brand extensions
Attributes of Strong Brands - correct answer ✔✔ 1 Consistent Brand Message
2 Focus on Long-term growth
3 Manage customer experience
4 Meaningful, memorable, likeable
Brand Equity - correct answer ✔✔ value of a brand based on loyalty, awareness, perceived
product quality, and brand associations
- reflective of long-term trust built by brand in consumers' mind
- indicative of "strength" of brand and brand "fit" with consumers
Things that improve Brand Equity - correct answer ✔✔ - brand name awareness
- brand loyalty
, - perceived brand quality
- brand associations
- brand knowledge
master brand - correct answer ✔✔ A brand that is so dominant that customers think of it
immediately when a product category is mentioned
master brand benefits for the consumer - correct answer ✔✔ -search cost reducer
-signal of quality
-risk reducer
-symbolic device
master brand benefits for the company - correct answer ✔✔ -source of competitive advantage
-predictability and security of demand
-barriers to entry
-financial returns
Marketing and Branding - correct answer ✔✔ - Marketing creates intangible value
- If marketing value / tangible asset > 1 then we've created Intangible Value
- We measure intangible value through Brand equity
Coke Example - correct answer ✔✔ Taking the stock price of Coke, multiplying that by the
shares of Coke and dividing that by Coke's tangible assets = 5
Aaker's five levels of customer attitude toward a brand - correct answer ✔✔ 1. devoted to
brand
2. values the brand
