Strategic Marketing Management Assignment

Part 1:

Read Brands and Brand Equity (Harvard Business Core Curriculum series: Marketing) summarize the article in detail.

Here are the requirements of the assignment.
Write minimum 2 pages in length.
Double space, use 12 Times New Roman
You do not need to write your name on the paper.
You may use bullet points.
Cover the following topics.
● Strategic importance and significance of branding ( what is brand equity? What are brand associations?
● What is brand loyalty?
● Explain Exhibit 3.
● Discuss the New Coke Fiasco?
● Watch video 1. If Apple Safari does not work to watch the video use other browsers such as Google Chrome.
● Discuss branding basics, and brand elements
● Watch video 2 and summarize the video on a wedge of lime
● Talk about brand personality.
● Branding and social media
● Discuss Exhibit 6
● Challenges in brand management

Part 2

Brands and Brand Equity

Quiz

 

Q1. Brands serve which following purpose?

  1. They are a means of achieving emotional engagement with consumers.
  2. They are markers to express social identities.
  3. They are a means of differentiating products from one another.
  4. All of the answers are correct.

Q2. A customer is shopping for spices in a US supermarket. She pauses as she compares the Goya brand of cinnamon to the McCormick brand. She opts for the McCormick cinnamon, judging it to be of better quality. This instinctual bias is known as:

  1. brand resonance.
  2. brand loyalty.
  3. the provenance paradox.
  4. the corona effect.

 

Q3. Subaru car owners are renowned for their repeat buying and brand loyalty. What type of connection would Keller conclude that the customer has achieved with the brand?

  1. Salience
  2. Resonance
  3. Enlightenment
  4. Performance

 

Q4. Interbrand, BrandZ, and Brand Finance all use qualitative and quantitative measurements to calculate brand value. Interbrand’s model is differentiated from others by its:

  1. Reliance on financial information
  2. Use of market research
  3. Ability to compare brands
  4. Consideration of the impact of the brand on employees
  5. Higher brand valuations

 

Q5. Most executives agree that brand strategies must be engineered across the entire marketing mix and throughout the life cycle of a product. Which of the following is NOT a component of that marketing mix?

(A) Pricing

(B) Market research

(C) Production

(D) Innovation

 

Q6. Which of the following can be considered a weakness of a branded-house strategy?

  1. The inability to target a diverse customer base
  2. Limited product expansion opportunities
  3. Vulnerability should one product’s reputation become tarnished
  4. All of the answers are correct.

 

 

Q7. Which of the following best describes brand promise?

  1. The differentiation of a product relative to its closest competitors
  2. What a company wants a consumer to do/gain/feel by using the product
  3. The set of human characteristics associated with a brand
  4. The underlying value proposition conveyed and the marketing language used

 

Q8. Successful business-to-business (B2B) branding strategy should reflect which of the following considerations?

  1. Facts and proof points
  2. Additional costs of training, implementation, and support
  3. Increased scrutiny of return on investment (ROI) of purchasing decisions
  4. All of the answers are correct.

 

Q9. True or false: A brand consists of a logo, brand name, symbol, or tagline.

  1. True
  2. False

 

Q10. True or false: Brand equity can be positive or negative.

  1. True
  2. False