Question

6. The financial value of any given brand can be described as: a) brand value b) brand equity c) brand profitability d) brand position 5 7. All of the following are examples of brand development EXCEPT: a) line extensions b) brand extensions c) value extensions d) new brands 8. A version of an idea that can be placed into terms for consumers can be described as: a) idea generation b) concept development and testing c) idea screening d) test marketing 9. Products in the product life cycle: a) can live forever if managed effectively b) can maintain the maturity stage for a very long period c) can enter the decline stage and then cycle back to the growth stage d) all of the above

Answer 1

Question 1: The financial value of any given brand can be described as:

Answer: Brand Value

Explanation: Brand Value is the financial worth of the brand, it is calculated through firms annual balance sheet. In other words Brand Value is the overall current value of the brand.

Question 2: All of the following are examples of brand development Except:

Answer: Value Extensions

Explanation: While all the mentioned choice are examples of brand development except value extensions. Value extensions is a metaphor for extending a value prepositions or in other words increasing personal, private or public value.

Question 3: A version of an idea that can be placed into terms for consumers can be described as:

Answer: Concept development and testing

Explanation: It is a version of an idea where customers or external and internal stakeholders are presented with the idea or a prototype to capture potential customer's perception or feedback.

Question 4: Products in the product life cycle:

Answer: Can maintain the maturity stage for a very long period.

Explanation: Once the product reaches the decline stage it is more relavant that the product will not grow in the market. While some companies maintain the product through maturity state for long period but it will eventually phase out from the market.