Marketing MKT 300 Exam 3 Arizona State University (Kota) Study Guide and
Practice Questions
connecting point for customers? - correct answer ✔✔ the brand
brand - correct answer ✔✔ name, term, sign, or symbol/design intended to identify the
goods/services of a seller(s) and to differentiate them from competitors
the role of brands - correct answer ✔✔ - higher perceived quality
- price premium
- greater market share
- financial strength
- brand extensions
attributes of strong brands - correct answer ✔✔ - consistent brand message
- focus on long term growth
- manage customer experience
- meaningful, memorable, likeable
brand equity - correct answer ✔✔ how much the brand is worth; the value of a brand
based on loyalty, awareness, quality, associations
STRENGTH of brand, brand FIT with consumers
benefits to consumers - correct answer ✔✔ - search cost reducer
, - signal of quality
- risk reducer
- symbolic device
benefits to companies - correct answer ✔✔ - source of competitive advantage
- predictability and security of demand
- barriers to entry
- financial returns
intangible value - correct answer ✔✔ if market value is greater than tangible assets ( >1)
aaker model - correct answer ✔✔ 1. devoted to brand
2. values the brand (brand as friend)
3. satisfied & switching cost
4. satisfied customer (no reason to change)
5. no brand loyalty (customer will change)
BAV components
(brand asset valuator) - correct answer ✔✔ differentiation
relevance
esteem
knowledge
interbrand's brand equity formula - correct answer ✔✔ brand earnings & brand strength
brand earnings - correct answer ✔✔ - brand sales
Practice Questions
connecting point for customers? - correct answer ✔✔ the brand
brand - correct answer ✔✔ name, term, sign, or symbol/design intended to identify the
goods/services of a seller(s) and to differentiate them from competitors
the role of brands - correct answer ✔✔ - higher perceived quality
- price premium
- greater market share
- financial strength
- brand extensions
attributes of strong brands - correct answer ✔✔ - consistent brand message
- focus on long term growth
- manage customer experience
- meaningful, memorable, likeable
brand equity - correct answer ✔✔ how much the brand is worth; the value of a brand
based on loyalty, awareness, quality, associations
STRENGTH of brand, brand FIT with consumers
benefits to consumers - correct answer ✔✔ - search cost reducer
, - signal of quality
- risk reducer
- symbolic device
benefits to companies - correct answer ✔✔ - source of competitive advantage
- predictability and security of demand
- barriers to entry
- financial returns
intangible value - correct answer ✔✔ if market value is greater than tangible assets ( >1)
aaker model - correct answer ✔✔ 1. devoted to brand
2. values the brand (brand as friend)
3. satisfied & switching cost
4. satisfied customer (no reason to change)
5. no brand loyalty (customer will change)
BAV components
(brand asset valuator) - correct answer ✔✔ differentiation
relevance
esteem
knowledge
interbrand's brand equity formula - correct answer ✔✔ brand earnings & brand strength
brand earnings - correct answer ✔✔ - brand sales
