Question

When responding to a brand crisis it is best to respond quickly and promptly to avoid bad press and losing any customers now or later on.

Question 1 options:

	True
	False

Question 2 (2 points)

If a company chooses to use current products in current markets it is called ________.

Question 2 options:

	Market Penetration Strategy
	Boring
	Diversification Strategy
	Strategic

Question 3 (2 points)

If the parent brand is already associated with multiple products through brand extensions, then it may also be called a _____.

Question 3 options:

	Brand Strategy
	Family Brand
	Family Man Brand
	Corporate Brand

Question 4 (2 points)

The _______ helps consumers understand how various brands in the portfolio can satisfy their needs as they change over time, or as the products and brands themselves change over time.

Question 4 options:

	corporate brand
	brand extension
	brand portfolio
	brand migration strategy

Question 5 (2 points)

A line extension often adds a different flavor or ingredient variety for the brand.

Question 5 options:

	True
	False

Question 6 (2 points)

______ can activate and strengthen brand associations that would be virtually impossible to recreate with new advertising today. (Hint see 13-1)

Question 6 options:

	Advertising on Tik-Tok
	Retro-branding
	Mom Tik-Tok videos
	Marketing

Question 7 (2 points)

It's best to take a ____-term view of brand management so that the brand can be proactive and enhance customer brand loyalty over time.

Question 7 options:

	middle of the road
	just right
	long
	short

Question 8 (2 points)

There are no disadvantages to brand extensions.

Question 8 options:

	True
	False

Answer 1

• True

In the event of a brand crisis, Silence is not golden. A lack of a quick and prompt response gives the issue a chance to exacerbate as such a piece of news travels like wildfire. The longer the delay, the more damage the news can inflict, and the longer it will take to restore normalcy. In the eyes of the consumers, especially in the case of a reputed brand, silence is considered as a sign of guilt and mistrust, which in turn will result in a loss of both brand loyalty as well as customers. Hence, in the case of a brand crisis, it is essential to respond as quickly as possible to prevent the situation from escalating

• Market Penetration Strategy

Market Penetration Strategy is one of the four strategies in the Ansoff Matrix. Product development, Market development, and Diversification make up the remaining three strategies. Market Penetration strategy focuses on increasing the sales of an existing product in an existing market to increase market share. It is done by decreasing the prices or increasing the advertising and distribution efforts.

• Family Brand

As a family brand, a company manages several products under one single brand. The products are related to a common product group or product line. This is different from individual branding that promotes each product in a separate fashion. Examples of a family brand include Apple that sells iPhone, iPad, and iPod under the name of the parent brand.

• brand portfolio

A brand portfolio analysis is essential for any company to successfully operate multiple brands. It is created because each brand has a certain limit beyond which it cannot satisfy different market segments. Developing a brand portfolio is important as it considers the needs of various markets and the customers in these markets. In simple words, the brand portfolio comprises all the different brands offered by a single company so that it caters to the requirement of different groups of people.

• True

A line extension is the utilization of an established brand name to launch a new product in the same category. One of the reasons that line extension is implemented by a firm is to provide the customers with a variety of products to keep them from getting bored. This strategy is also implemented to keep customers hooked to a particular brand in the wake of extreme competition. E.g. Coco-cola launching diet coke.