A Brand Is Forever
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Why should you revitalize a declining or dead brand?
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Creating a new brand is expensive
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People do not like new brands
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It requires a lot of investments
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Old brand is always more profitable than a new one
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Explore the strategic decisions behind revitalizing brands in 'A Brand is Forever'. Learn why reviving brands can be cost-effective, understand the consequences of brand quality, and discover tactics like extended warranties and value pricing to enhance brand perception.
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- 2.
Which of these reasons led to the death of Oldsmobile brand?
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It was not safe
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It was too expensive compared to competitors
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It was very similar to other GM brands
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It was not advertised enough
Correct Answer
A. It was very similar to other GM brandsExplanation
The Oldsmobile brand's demise can be attributed to its similarity to other General Motors (GM) brands. This lack of distinctiveness made it difficult for Oldsmobile to stand out in the market and attract customers. With other GM brands offering similar products, consumers had little incentive to choose Oldsmobile over its competitors. This lack of differentiation ultimately led to a decline in sales and the eventual discontinuation of the Oldsmobile brand.Rate this question:
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- 3.
What is said about Cadillac?
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Cadillacs were too large
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Cadillacs were of poor quality
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Cadillacs were too expensive
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Japanese competition hurt Cadillac
Correct Answer
A. Cadillacs were of poor qualityExplanation
The given answer states that Cadillacs were of poor quality. This suggests that there was a perception or belief that the vehicles produced by Cadillac were not up to the expected standard in terms of their quality. This could have been due to various factors such as manufacturing issues, design flaws, or a lack of attention to detail in the production process. This perception of poor quality could have had a negative impact on the reputation and sales of Cadillac cars.Rate this question:
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- 4.
What does "milk the brand" mean?
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You invest a lot of money into the brand
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You invest in the quality of the products
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You lower the prices of products
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You try to sell as much as possible without investing money into the brand
Correct Answer
A. You try to sell as much as possible without investing money into the brandExplanation
"Milk the brand" refers to the strategy of maximizing sales and profits without making additional investments in the brand. This means focusing on selling as much as possible without spending money on marketing, advertising, or brand development. The goal is to extract as much value from the brand without putting any additional resources into it.Rate this question:
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- 5.
How did Hyundai create an impression that Hyundai cars are high quality products?
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They hired famous people to advertise their cars
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They made Hyundai rally cars which won races
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They offered a 100 000 mile service warranty
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They raised the prices of their cars
Correct Answer
A. They offered a 100 000 mile service warrantyExplanation
Hyundai created an impression that their cars are high quality products by offering a 100,000 mile service warranty. This warranty demonstrates their confidence in the durability and reliability of their vehicles, giving customers peace of mind and assurance of the car's quality. It also shows Hyundai's commitment to customer satisfaction and their willingness to stand behind their products for an extended period. This strategy helps to build trust and credibility among consumers, enhancing the perception of Hyundai cars as high quality.Rate this question:
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- 6.
What is meant by saying brand is"value priced"?
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Brand offers high quality at a high price
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Brand is sold at the highest possible price
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The brand price reflects company values, for example honesty
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Brand offers good quality at a low price
Correct Answer
A. Brand offers good quality at a low priceExplanation
The term "value priced" refers to a brand that offers good quality products at a low price. This means that the brand provides customers with a good value for their money by offering affordable products without compromising on quality.Rate this question:
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- 7.
What is brand differentiation?
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Making a brand similar with other brands
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Making sure consumers think your brand is different and unique
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Offering different options under the same brand
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Trying to sell the same brand to different consumers
Correct Answer
A. Making sure consumers think your brand is different and uniqueExplanation
Brand differentiation refers to the process of ensuring that consumers perceive a brand as distinct and unique from its competitors. This involves creating and promoting unique selling points, such as product features, benefits, or brand values, that set the brand apart in the minds of consumers. By differentiating the brand, companies aim to stand out from the competition, attract target customers, and build a strong brand identity and reputation.Rate this question:
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- 8.
What is said about brand St. John?
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Hiring Angelina Jolie as the brands new face was a big success
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Its core customers are getting older and it should attract younger customers
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It should stay with its loyal customers
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It should expand to jeans
Correct Answer
A. Its core customers are getting older and it should attract younger customersExplanation
The correct answer suggests that the brand St. John's core customers are aging and therefore, it should focus on attracting younger customers. This implies that the brand needs to adapt its marketing strategies and product offerings to cater to a younger demographic in order to ensure its long-term success and sustainability.Rate this question:
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- 9.
Why did Polaroid go bankrupt?
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Polaroid lost brand awareness
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It produced poor-quality products
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Its products became too expensive
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Digital cameras made instant photos irrelevant
Correct Answer
A. Digital cameras made instant photos irrelevantExplanation
Polaroid went bankrupt because the emergence of digital cameras made instant photos irrelevant. With the rise of digital photography, people no longer needed instant cameras to capture and print their photos instantly. The convenience and quality of digital cameras made Polaroid's products obsolete, leading to a decline in demand and ultimately causing the company's financial downfall.Rate this question:
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- 10.
When shouldn't you revive a brand?
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If there is too much competition in the market
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When people don't recognize it or have a negative image of it.
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When brand sells high-priced products
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When the brand has started to decline
Correct Answer
A. When people don't recognize it or have a negative image of it.Explanation
Reviving a brand can be a challenging task, especially when people don't recognize it or have a negative image of it. In such cases, attempting to revive the brand may not yield positive results as the negative perception or lack of recognition can hinder its success. It is important for a brand to have a positive image and be recognized by its target audience in order to gain their trust and loyalty. Therefore, when people don't recognize a brand or have a negative perception of it, reviving it may not be a suitable strategy.Rate this question:
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Current Version
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Mar 08, 2024Quiz Edited by
ProProfs Editorial Team -
Apr 13, 2019Quiz Created by
JARMIKK
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