In This Step of Building the Brand, Brand Managers Identify

question 13

Multiple Choice

In this step of building the brand, brand managers identify key attributes and benefits their brand will deliver for consumers.

• A) Identify target market and segmentation.
• B) Establish core values and positioning strategy.
• C) Build brand loyalty and brand equity.
• D) Plan and implement the marketing program.
• E) Measure and evaluate brand performance.

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Definitions:

Economic Profit

The difference between total revenue and total costs, including both explicit and implicit costs, indicating the financial success exceeding the opportunity cost of resources.

Accounting Profit

The net income for a company calculated by subtracting total expenses from total revenues according to accounting principles, not including implicit costs.

Short-run Supply Curve

A graphical representation showing the relationship between the price of a good and the quantity supplied over a short period, considering some inputs remain fixed.

Industry-wide Price

The average or standard price level for goods and services across a specific industry or market.