Relationships Forged Between a Brand and a Sponsored Event Can

question 53

Multiple Choice

Relationships forged between a brand and a sponsored event can serve to enhance a brand's equity,both by enhancing its image and by _____.

• A) reaching the current target market 
• B) taking the place of advertising in building buzz 
• C) increasing consumers' awareness of the brand 
• D) convincing consumers' of the uniqueness of the brand 
• E) serving as a sales promotion device

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Definitions:

Core Competency

Fundamental strengths or unique abilities that a company possesses, providing the foundation for its competitive advantages.

Differentiation Advantage

The unique attributes or features a product or service provides that set it apart from competitors, leading to a competitive advantage.

Strategic Plan

A comprehensive blueprint designed by an organization to outline its goals, the strategies to achieve them, and the metrics for tracking progress.

Competitive Advantage

The attributes that allow an organization to outperform its competitors.