The Four Steps in the Sequential Building Process of Brand

question 291

Multiple Choice

The four steps in the sequential building process of brand equity include _________, establishing a brand's meaning in the minds of consumers, eliciting the proper consumer responses to a brand's identity and meaning, and to create a consumer-brand connection.

• A)developing positive brand awareness
• B)products lower in price
• C)easing consumers' decision making
• D)products higher in value
• E)needed market modification

Understand the difference between invention, innovation, and diffusion and their significance in technological progress.

Grasp the relevance of patents to inventions and innovations.

Differentiate between product and process innovations and their effects on firms' costs and revenues.

Comprehend the advantages of being first in developing a new product.

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Definitions:

Risk

The potential for losses or less-than-expected returns, present in all types of investments and business activities.

Uncertainty

The state of having limited knowledge where it is impossible to exactly describe the existing state, a future outcome, or more than one possible outcome.

Investing Activities

Activities involving the buying and selling of long-term assets and investments, excluding those considered as cash equivalents.

Financing Activities

Activities that result in changes in the size and composition of the contributed equity and borrowings of an entity, often reflected on the cash flow statement.