How well will you do in our Brand Management Quiz?
1. Can you name three individuals who have successfully branded themselves?
2. Can you describe their brands’ essences?
3. Can you identify their target audiences?
4. Can you name three commodities that have been successfully branded?
5. What created the perceived differences between each of those brands and the commodity?
6. What major industry has been trying to transform itself from commodity status through branding?
7. What are some of the ways that electric utility companies can differentiate themselves?
8. What major brands built their businesses with little or no advertising?
9. Of twenty-five top brands in twenty-five different product categories in 1923, how many are still category leaders today?
10. As consumer satisfaction increases in a product category, does consumer loyalty increase or decrease? Why? If you could only use one of the two measures (consumer satisfaction or consumer loyalty), which would you use?
11. If a consumer has a high repeat purchase rate, is he or she necessarily a loyal consumer?
12. Are the heaviest purchasers the most loyal?
13. Give a few examples of “ingredient branding,” branded components of other brands’ products or services.
14. Name four or more brands that have become (or run the risk of becoming) category generic descriptors.
15. Which is the most predictive of brand market share? (a) brand loyalty, (b) brand value, (c) brand penetration, (d) brand awareness, or (e) brand differentiation?
And The Answers Are…
1. Madonna, Dennis Rodman, Martha Stewart, Stephen King, Isaac Asimov, Deepak Chopra, M.D., and Marilyn Manson, to name a few
2. Hint: Create a two-to-three word phrase that captures the “heart and soul” of each individual
3. Hint: Create a two sentence description of the type of person who would most appreciate (that is, derive functional, emotional, experiential, or self-expressive benefits from) each individual
4. bottled water, vodka, chicken, bananas
5. Hint: (a) What makes you choose one brand over another in the category: consistent quality, taste, health concerns, making a personal statement? (b) What communicates these attributes: brand name, packaging, label, advertising?
6. electric utilities
7. bundled services, environmental/social responsibility, customer service, energy reduction consulting, add-on services, etc.
8. Harley-Davidson, Body Shop, Starbucks, Compaq, Wal-Mart, Haagen-Dazs, Palm Pilot, Hotmail, Trivial Pursuit, ICQ
9. 20
10. (a) decrease, (b) because, as satisfaction increases, most options eventually exceed consumer’s requirements. When that happens, consumers become indifferent between brands. (c) consumer loyalty
11. No, not necessarily. His or her behavior could be driven by a purchaser frequency program that does not create sustained (or attitudinal) loyalty. The reverse, however, is true. Loyalty should result in high repeat purchase rates.
12. Not necessarily. Often, the most enthusiastic category purchasers buy the product–regardless of brand–whenever and wherever they find it.
13. Dolby, NutraSweet, Intel, Kevlar, Lycra, Nylon, Gore-Tex, and Culligan
14. Asperin, Cellophane, Escalator, Styrofoam, Kleenex, Shredded Wheat, Thermos, Band-Aid, Scotch Tape, Super Glue, Chap Stick, Wite-out, Beer Nuts, Jello, Rollerblade, Xerox and Palm Pilot
15. (c) brand penetration. Brand penetration is the most predictive of band market share. It does not guarantee profitable market share however. For instance, if it is achieved by “buying” distribution (by paying retailers high sales terms), it will result in high market share at reduced profit margins. For profitable market share gains, one must focus on all of the drivers of customer brand insistence: awareness, accessibility, value, relevant differentiation and emotional connection.
How well did you do?
The Blake Project Can Help: The Brand Positioning Workshop
Branding Strategy Insider is a service of The Blake Project: A strategic brand consultancy specializing in Brand Research, Brand Strategy, Brand Growth and Brand Education
