The Four Steps in the Sequential Process of Building the Brand

question 68

Multiple Choice

The four steps in the sequential process of building the brand equity pyramid are: (1) developing positive brand awareness; (2) establishing a brand's meaning in the minds of consumers; (3) eliciting the proper consumer responses to a brand's identity and meaning; and (4) __________.

• A)easing consumers' decision making
• B)forming a brand personality
• C)creating a consumer-brand connection
• D)rewarding loyal customer behavior
• E)developing brand licensing criteria

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Definitions:

Finished Goods

Products that have completed the manufacturing process but have not yet been sold to customers.

LIFO Inventory Method

An inventory valuation method that assumes the last items placed in inventory are the first sold during an accounting period; stands for Last-In, First-Out.

Inventory Costing Methods

Techniques used to assign costs to inventory items, such as First-In, First-Out (FIFO), Last-In, First-Out (LIFO), and weighted average cost.