SOLVED

41) Which of the following statements about brand equity is NOT true? A) Brand equity means a brand has customer loyalty. B) Brand equity refers to the brand’s value to an organization. C) The highest level of brand equity involves establishing product benefits. D) Brand equity gives a firm the power to capture and hold onto a larger share of the market and to sell at prices with higher profit margins. E) Brand equity can provide a competitive advantage. 42) The concept of ________ encompasses the beliefs and associations that a consumer has about a brand. A) brand meaning B) brand storytelling C) brand equity D) product quality E) total quality 43) Which of the following most accurately describes a brand extension? A) a new product that combines the power of two or more brand names B) a new product sold under an established brand name C) a new product added to the lower end of a product mix D) a new product added to the higher end of a product mix E) a new product line added to a product mix 44) A family brand strategy is also called a(n) ________ strategy. A) cobranding B) licensing C) umbrella brand D) store brand E) national brand 45) Procter & Gamble makes Tide, Cheer, Ivory Snow, and Bold detergents as well as PertPlus, Rejoice, and Vidal Sassoon shampoos. Through its use of a separate and unique brand name for each of these products, Procter & Gamble is using a(n) ________ strategy. A) umbrella brand B) family brand C) individual brand D) private-label brand E) cobranding 46) Oreos and Coke are both examples of ________. A) store brands B) cobrands C) private-label brands D) national brands E) ingredient brands 47) Toronto-based Loblaw supermarket chain developed President’s Choice brand products to sell exclusively in its stores. President’s Choice is an example of a ________. A) manufacturer brand B) national brand C) cobrand D) generic brand E) private-label brand 48) Another name for a store brand is a ________. A) national brand B) private-label brand C) generic brand D) manufacturer brand E) licensed brand 49) What is the most logical explanation for why retailers carry private-label brands? A) to eliminate the need for competitive advantages B) to encourage transaction marketing C) to support trade promotions D) to earn more profit E) to prevent sales cannibalization 50) In a competition between ________ and ________ brands, retailers have the advantages of controlling what products will be stocked, where products will be stocked, what prices will be charged, and which products will be featured in local print promotions. A) national; manufacturer B) national; private-label C) store; private-label D) national; licensed E) manufacturer; licensed