Developing the Brand Strategy (Chapter 4)

What are your thoughts on the below scenarios?

1. What is the essence of brand strategy?(Check all that apply)

A. Brand strategy outlines the way in which the brand will create market value

B. Brand strategy defines the key brand attributes, such as the brand name, that enable the brand to create market value

C. Brand strategy defines the brand's target market and its value proposition for the relevant entities in this market

D. Brand strategy defines the brand identifiers that enable target customers to distinguish the company's brand from those of the competition

2.What are the ultimate goals of targeting?(Select the two most important goals)

A. Identify entities (individuals or organizations) that the company aims to serve

B. Identify entities (individuals or organizations) that the company will ignore

C. Identify competitive offerings that target a company's customers

3.Targeting reflects the company's choice of which customers it will prioritize and which customers it will ignore when designing and communicating its brand.

True

False

4.What are the two key principles guiding the choice of target customers?(Select two principles)

A. Target compatibility

B. Target attractiveness

C. Target size

D. Competitive advantage

E. Profitability

5.How large should a company's target market be?(Choose one)

A. A company should select the smallest market segment for which it can establish a meaningful point of difference.

B. A company should select the largest market segment for which it can establish a meaningful point of difference.

6. Strategic targeting identifies customers whose needs the company aims to fulfill by tailoring its brand to fit these needs.

True

False

7.Tactical targeting aims to identify the ways in which the company will reach strategically important customers to communicate the essence of the brand.

True

False

8.What factor serves as the primary basis for identifying a company's (current and potential) competitors?(Select one)

A. The industry in which the company competes

B. The needs of the target customers

C. The company's core competencies and strategic assets

D. The company's cost structure

9.What are the key factors that define the value a brand creates for its customers?(Check all that apply)

A. The needs of the target customers

B. The benefits delivered by the company's brand

C. The benefits created by competitive brands that that fulfill the same customer needs

10.From a competitive standpoint, what are the key dimensions defining an offering's value proposition?(Check all that apply)

A. Points of parity

B. Points of dominance

C. Points of compromise

11.Brand positioning is the process of creating a meaningful and distinct image of a brand in target customers' minds.

True

False

12.What are the key decisions involved in positioning a brand?(Check all that apply)

A. Deciding how many benefits to promote

B. Deciding which benefits to promote

C. Deciding how to frame the focal benefits

13. Which of the following three strategies is most commonly used in brand positioning?(Select one)

A. Single-benefit positioning

B. Multi-benefit positioning

C. Holistic positioning

14.From the point of view of the sustainability of a brand's competitive advantage, what is the effectiveness of the following positioning strategies? (Enumerate the positioning strategies below from 1 [most effective] to 3 [least effective])

Positioning on functional benefits ...

Positioning on monetary benefits ...

Positioning on psychological benefits ...

15.What are the different frames of reference that can be used to position an offering?(Check all that apply)

A. Category-based framing

B. Competitive framing

C. Product-line framing

D. User-based framing

E. Need-based framing

16.Comparative positioning is typically employed by lesser known brands trying to gain share from the market leader.

True

False

17.The brand mantra is the brand's promise to its customers.

True

False

18.Which of the following two concepts is more likely to involve competitive brands?(Select one)

A. Brand positioning

B. Brand mantra

19.What is the essence of brand positioning, brand mantra, brand personality, and brand character?(Match the terms with their definitions)

Brand positioning is ...

• a company's view of how its target customers should think about the brand
• the core meaning of the brand, which defines what the brand stands for
• a set of human characteristics attributed to a brand
• a fictional personality that embodies the essence of the brand.

Brand mantra is ...

• a company's view of how its target customers should think about the brand
• the core meaning of the brand, which defines what the brand stands for
• a set of human characteristics attributed to a brand
• a fictional personality that embodies the essence of the brand.

Brand personality is ....

• a company's view of how its target customers should think about the brand
• the core meaning of the brand, which defines what the brand stands for
• a set of human characteristics attributed to a brand
• a fictional personality that embodies the essence of the brand.

Brand character is ...

• a company's view of how its target customers should think about the brand
• the core meaning of the brand, which defines what the brand stands for
• a set of human characteristics attributed to a brand
• a fictional personality that embodies the essence of the brand.

20.Cause branding refers to the practice of building nonprofit brands.

True

False