CMA CMA Brand Management & Positioning 1

Question 1

What is 'brand equity'?

Accepted Answer

The added value a brand name gives to a product beyond its functional benefits

Answer

Brand equity represents the premium value a brand adds to a product due to consumer perceptions, associations, and loyalty, above and beyond the product's functional value.

Question 2

David Aaker's Brand Equity Model identifies which five components of brand equity?

Accepted Answer

Brand Loyalty, Brand Awareness, Perceived Quality, Brand Associations, Other Proprietary Assets

Answer

Aaker's model defines brand equity through brand loyalty, brand awareness, perceived quality, brand associations, and other proprietary brand assets like patents and trademarks.

Question 3

A 'brand extension' strategy involves:

Accepted Answer

Using an established brand name to launch a product in a new category

Answer

Brand extension leverages the equity of an established brand by applying it to a product in a new category, reducing launch risk by borrowing existing brand recognition.

Question 4

What is a 'brand promise'?

Accepted Answer

The value and experience a brand commits to consistently deliver to its customers

Answer

A brand promise is the commitment a brand makes to its customers about what they can consistently expect from every interaction with the brand.

Question 5

Which branding architecture strategy uses individual brand names for each product rather than a single corporate brand?

Accepted Answer

House of Brands

Answer

A House of Brands strategy (used by Procter & Gamble) maintains separate brand identities for each product, insulating the parent company from any single brand's failures.

(CMA) Certified Market Analyst Practice Test

(CMA) Certified Market Analyst Practice Test

CMA CMA Brand Management & Positioning 1