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Branding and Brand Equity in Business Marketing

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

What is a brand?

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1. A _____ provides the words or terms that help customers understand why they should use the product and the company values.

2. Which of the following is a commercial value that can be put on a brand?

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About This Quiz & Worksheet

This quiz and corresponding worksheet will help you gauge your understanding of branding and brand equity, which are two marketing terms. Topics you'll need to know to pass the quiz include understanding various characteristics and aspects of a brand.

Quiz & Worksheet Goals

Use these assessment tools to assess your knowledge of:

  • What a brand is
  • What provides the words that indicate the company's values to the customer and explain why they should use the product
  • The commercial value that can be put on a brand
  • How brand equity can translate into a business's bottom dollar
  • Whether you need to know your standing compared to competitors to develop your brand

Skills Practiced

This worksheet and quiz will let you practice the following skills:

  • Defining key concepts - ensure that you can accurately define main phrases, such as brand message and brand equity
  • Reading comprehension - ensure that you draw the most important information from the related lesson on branding and brand equity in marketing
  • Interpreting information - verify that you can read information brands and interpret it correctly
  • Knowledge application - use your knowledge to answer questions about brand development

Additional Learning

To learn more about the importance of branding, review the corresponding lesson on Branding and Brand Equity in Marketing. This lesson covers the following objectives:

  • Know what a brand is
  • Distinguish between 'brand message' and 'brand equity'
  • Review the steps to developing a brand
  • Understand how to build brand equity
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