Brand Management Final Exam
UPDATED Exam Questions and
CORRECT Answers
brand - CORRECT ANSWER- "a name, term, sign, symbol, design, or combination of them
which is intended to identify the goods and services of one seller or group of sellers and to
differentiate them from those of competitors
branding - CORRECT ANSWER- the process of using brand elements (e.g., name, symbol,
design) to differentiate goods/services by providing distinct images, associations, and
experiences related to the offerings and firms
brand image - CORRECT ANSWER- the sum of a consumer's perceptions and feelings of a
brand
brand elements - CORRECT ANSWER- logo, symbol, color, typeface, and graphic design.
Consistently used to build a unique identity
brand equity - CORRECT ANSWER- the power of a brand lies in what consumers know
about a particular brand
brand personality - CORRECT ANSWER- human characteristics associated with a brand
brand salience - CORRECT ANSWER- consumers' abilities to recognize, or have awareness
of, any particular brand
merchantainment - CORRECT ANSWER- the entertainment aspect associated with wearing
fashion brands
merchandising - CORRECT ANSWER- involves sourcing products, producing products,
distributing products, selling products through retailing or wholesaling
consumer brand - CORRECT ANSWER- brands for consumer use
, industrial brand - CORRECT ANSWER- brands working in business-to-business
private brand - CORRECT ANSWER- produced by one entity and offered to consumers only
through channels controlled by the entity
brand v. brand credibility - CORRECT ANSWER- brand: name, term, symbol, or any other
feature that identifies one seller's goods
brand credibility: believability of the product position information contained in a brand which
entails consistently delivering what is promised; trustworthiness and expertise
retailing v. wholesaling - CORRECT ANSWER- retailing: selling of goods to ultimate
consumers for personal or household consumption
wholesaling: sale and distribution of goods to retailer or industrial, commercial, institutional
or other professional businesses
consumers, purchasers, shoppers - CORRECT ANSWER- - consumers: members of the
general population or specifically identified groups of potential and real purchasers or used of
goods or services
- shoppers: individuals who shop in the store
- purchasers: those who engage in a sales transaction and acquire goods or services they
intend to use
4 consumer groups: baby boomers, generation x, generation y, the grey market - CORRECT
ANSWER- - baby boomers: born 1946-1964. largest and most influential group of
consumers. work centered, goal oriented, large amounts of flexible income
- gen X: 1965-1980. smallest consumer group
- gen Y: 1980-onward. Willing to try new products. Mostly targeted bu fashion and retail
professionals
- the grey market: born before 1945. having money to spend.
Innovators - CORRECT ANSWER- (5%) - actively seek out new products
Early Adopters - CORRECT ANSWER- (10%) - fairly readily embrace new products
UPDATED Exam Questions and
CORRECT Answers
brand - CORRECT ANSWER- "a name, term, sign, symbol, design, or combination of them
which is intended to identify the goods and services of one seller or group of sellers and to
differentiate them from those of competitors
branding - CORRECT ANSWER- the process of using brand elements (e.g., name, symbol,
design) to differentiate goods/services by providing distinct images, associations, and
experiences related to the offerings and firms
brand image - CORRECT ANSWER- the sum of a consumer's perceptions and feelings of a
brand
brand elements - CORRECT ANSWER- logo, symbol, color, typeface, and graphic design.
Consistently used to build a unique identity
brand equity - CORRECT ANSWER- the power of a brand lies in what consumers know
about a particular brand
brand personality - CORRECT ANSWER- human characteristics associated with a brand
brand salience - CORRECT ANSWER- consumers' abilities to recognize, or have awareness
of, any particular brand
merchantainment - CORRECT ANSWER- the entertainment aspect associated with wearing
fashion brands
merchandising - CORRECT ANSWER- involves sourcing products, producing products,
distributing products, selling products through retailing or wholesaling
consumer brand - CORRECT ANSWER- brands for consumer use
, industrial brand - CORRECT ANSWER- brands working in business-to-business
private brand - CORRECT ANSWER- produced by one entity and offered to consumers only
through channels controlled by the entity
brand v. brand credibility - CORRECT ANSWER- brand: name, term, symbol, or any other
feature that identifies one seller's goods
brand credibility: believability of the product position information contained in a brand which
entails consistently delivering what is promised; trustworthiness and expertise
retailing v. wholesaling - CORRECT ANSWER- retailing: selling of goods to ultimate
consumers for personal or household consumption
wholesaling: sale and distribution of goods to retailer or industrial, commercial, institutional
or other professional businesses
consumers, purchasers, shoppers - CORRECT ANSWER- - consumers: members of the
general population or specifically identified groups of potential and real purchasers or used of
goods or services
- shoppers: individuals who shop in the store
- purchasers: those who engage in a sales transaction and acquire goods or services they
intend to use
4 consumer groups: baby boomers, generation x, generation y, the grey market - CORRECT
ANSWER- - baby boomers: born 1946-1964. largest and most influential group of
consumers. work centered, goal oriented, large amounts of flexible income
- gen X: 1965-1980. smallest consumer group
- gen Y: 1980-onward. Willing to try new products. Mostly targeted bu fashion and retail
professionals
- the grey market: born before 1945. having money to spend.
Innovators - CORRECT ANSWER- (5%) - actively seek out new products
Early Adopters - CORRECT ANSWER- (10%) - fairly readily embrace new products
