Question

Question 23 2 pts Jones Soda Company is a soft drink company that was started in Seattle in 1986. The nature of the soft drink market is highly competitive due to the number of competing options consumers have to choose from. What is the likely explanation for Jones Soda ability to endure competition for over 30 years? high brand relevance. high brand esteem. high brand capture. high brand equity. o high brand profit Next Previous

Answer 1

Ans) High brand esteem will be perfect explanation for Jones Soda ability to endure competition for over 30 years. Esteem is what the brand is known for, or its image. This includes how much (or how little) the brand is respected, and what it’s respected (or disrespected) for. After nearly ten straight years of net losses — 34 consecutive quarters to be exact. However, by the end of 2016, revenue topped $15.7 million and gross profits, $4.1 million. The Jones adopted following strategies, first, an “alternative distribution strategy” by selling uniquely flavored soda products in venues like music and clothing stores, tattoo and piercing parlors, and sporting good shops. Second, the company began featuring customer-submitted photographs on its labels as a way to create an emotional attachment to the brand. One ingredient united Jones’ success: its relationship with its customers. So, to win over the competitor and blow their trumphet again in the market Jones Soda has returned to the root of its success: customers.