Assignment

Question 1: Of what a brand image consist?
A Brand image is one of the dimensions of consumer based brand knowledge. It is the types of associations that come to the consumers’ mind when contemplating a particular brand.
These associations are thoughts and feelings that a consumer has about a brand.


Question 2: Identify two types of associations that a brand has.
The two types of associations are:
Ø Attributes
Ø Benefits


Question 3: what does a brand attributes include?
It includes:
Ø Non-Product related.
Ø Product related like.


Question 4: Identify two Non-Product related attributes.
Ø Price
Ø Packaging


Question 5: what does brand attributes mean?
A brand attributes mean the overall favourable evaluation or attitude toward the brand. In other words, it is what the brand worth in the mind of consumer concerning verything from the packaging to the colour or the size of products.


Question 6: “The successful positioning requires a communication strategy that entices a single type of consumer need (functional, symbolic or experiential)”
The statement is true. A brand that gives a generic image is difficult to manage.


Question 7: what does the consumer processing model mean (CPM)?
It is a rational consumer processing model. CPM is the perspective that provides an appropriate description of consumer behaviour when that behaviour is deliberate, thoughtful, or highly cognitive. It views consumers as pursuing objectives such as “obtaining the best buy”, “getting the most for their money”, and “maximizing utility”. The CPM perspective is based on the thoughtful evaluation that the chosen alternative will be more functional and provide better results than will the alternatives.


Question 8: what does the Hedonic, Experimental model (HEM) mean?
This model explains how consumers process information when they are carefree and happy and confronted with positive outcomes. It recognizes that people often consume products for the sheer fun of it or in the pursuit of amusement, fantasies, or sensory stimulation. The consumption results from the anticipation of having fun, fulfilling fantasies, or having pleasurable feelings. From this perspective, products are viewed not as objective entities but more than that, as subjective symbols that precipitate feelings and promise fun and possible realization of fantasies.


Question 9: what are the three stages of adopting a new product?
The three stages are:
Ø Awareness stage
Ø Trier stage
Ø Repeater stage


Question 10: what are the variables we should follow in the three stages?

The variables needed for each stage are:
Ø Awareness stage: free samples and coupons, trade shows and personal selling, advertising, and distribution.
Ø Trier stage: cents-off coupons, wide product distribution on retailer shelves and displays, and lower prices.
Ø Repeater stage: personal selling, advertising, price, distribution, and product satisfaction


Question 11: Identify three product related characteristics that influence consumers’ attitudes toward new product.
These three characteristics are:
Ø Relative advantage: it represents the degree to which consumers perceive a product innovation as being better than existing alternatives with respect to a specific attribute or benefit. It is a function of consumer perception and is not a matter of whether a product is actually better by objective standards.
Ø Compatibility: it is the degree to which an innovation is perceived to fit into a person’s way of doing things. A new product is more compatible to the extent that it matches consumers’ needs, personal values, beliefs, and past consumption practices.
Ø Complexity: refers to an innovation’s degree of perceives difficulty. The more difficult an innovation is to understand or use, the slower the rate of adoption.


Question 12: to understand the diffusion process, there five adopter categories. Identify them.
The five categories are:
Ø Innovators: they represent 13% of the population and are successful, sophisticated, take-charge people with high self esteem. They have abundant resources. They are considered leaders and are opened to new ideas and technologies. Innovators are very active consumers and it reflects cultivated tastes.
Ø Early adopters: they are opinion leaders
Ø Early majority: they represent 35% of the population
Ø Late majority: they represent 35 % of the population
Ø Laggards: they represent 15% of the population


Question 13: what is a brand?
A brand represents a “name, term, sign, symbol, or design, or a combination of them intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of competition.


Question 14: explain the brand naming process.
The brand naming is a process that follows five important steps:
Step1: Specify objectives for the brand name
Ø Managers are concerned with selecting a name that will successfully position the brand in the minds of the target audience, provide an appropriate image for the brand, and distinguish it from competitive brands.

Step 2: Create Candidate Brand Name
ØBrand name candidates often are selected using creative thinking exercises and brainstorming sessions.

Step 3: Evaluate candidate names
ØThe names generated are evaluated using criteria such as relevance to the product category, favorability of associations conjured up by the name, and the over all appeal.
ØNames should be easily recognized and recalled.

Step 4: Choose a brand name
ØCriteria of steps 1 and Step 3 are used by managers to select a final name from the candidate field.
ØThe judgment is generally subjective.

Step 5: Register the trade mark
ØMost companies apply for the trade mark registration with only one name and others multiple ones (on average five names).
ØA survey indicated that three names are rejected for every registered name.


Question 15: what is the role of a brand?
Abrand has the role of giving the company a unique designation, or trademark, which identifies a company’s offering and distinguishes it from other product category entries. A good brand name evolves feelings of: trust, security, confidence, strength, durability, speed, status and many others.