Chapter 8- Developing a Brand Equity Measurement and Management System

What is brand inventory and what is it include?
A profile of all of the products/services that a brand provides. A brand inventory includes product attributes, brand characteristics, and pricing.
What are the steps for brand exploratory?
1. Preliminary Activities
2. Interpreting qualitative research
3. Conducting quantitative research
What is brand positioning?
what a person thinks of when the brand comes to mind
True or false: a brand charter is a document formalizing company view of brand equity and explains its importance?
True
What does the brand charter do?
It formalizes the company’s view of brand equity into a document.
What are the two main points of the brand equity report?
The contents and the dashboards.
True or false: brand audit is an independent examination of a company’s marketing environment, objectives, strategies, and activities?
False
Which factors are part of John Robert’s brand positioning considerations?

a. owned

b. valued

c.claimed

d. desired

e. all of the above

e. all of the above
Which of the following is not a brand equity responsibility?

a) Overseeing brand equity

b) Organizational design and structures

c) Correcting false advertising

d) Managing marketing partners

c) correcting false advertising
What two things should a brand equity report include?

a) Content and dashboards

b) Information and statistics

c) Names and numbers

d) Costs and profitability

a) Content and dashboards
What are the three decisions you have to make when designing brand tracking studies?
1. What to track

2. How to conduct tracking studies

3. How to interpret tracking study

What is the importance of a brand charter?
Provides relevant guidelines to marketing managers and key marketing partners. It formalizes the company view of brand equity into a document.
What time frame should brand charters be updated to the current brand profile?
Annually
What are the three components of a rand equity management system?
1. Brand charter
2. Brand Equity Report
3. Brand Equity Responsibilities
What is the difference between a brand audit and marketing audit?
Brand audits are focused on examining and evaluating a brand’s equity. A marketing audit focused on the marketing efforts of the company.
What is the purpose of a brand charter?
Formalizes the company view of brand equity into a document, providing guidelines to relevant partners and marketing managers. Should be annually updated.