There are a number of specific roles brands can play as part of a brand portfolio. List and briefly describe the four roles
What will be an ideal response?
The four roles are:
1. flankers — or fighting brands. These are positioned with respect to competitors' brands so that more important (and more profitable) flagship brands can retain their desired positioning
2. cash cows — some brands may be kept around despite dwindling sales because they still manage to hold on to a sufficient number of customers and maintain their profitability with virtually no marketing support. These "cash cow" brands can be effectively "milked" by capitalizing on their reservoir of existing brand equity
3. low-end entry-level — the role of the relatively low-priced brand in the portfolio often may be to attract customers to the brand franchise. Retailers like to feature these "traffic builders" because they are able to "trade up" customers to a higher-priced brand
4. high-end prestige — the role of a high-priced brand in the brand family often is to add prestige and credibility to the entire portfolio.
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Activities that involve the production or purchase of merchandise and the sale of goods and services to customers, including expenditures related to administering the business, are classified as:
A. Direct activities. B. Indirect activities. C. Financing activities. D. Operating activities. E. Investing activities.
A long-run challenge for a business is maintaining a competitive position
Indicate whether the statement is true or false
The task of crafting a company's strategy would not normally be described as which of the following?
A. Ultimate responsibility for leading the strategy-making task rests with the chief executive officer. B. In most companies, crafting strategy is a team effort, involving managers and often key employees at many organization levels. C. In most of today's companies, every company manager has a strategy-making role, ranging from major to minor, for his or her area of responsibility. D. It is the responsibility and duty of a company's board of directors to ensure that new strategy proposals can be defended as superior to alternatives and, ultimately, to approve or disapprove of the strategy formulated and proposed by the company's management. E. The task of crafting strategy is best done by a company's chief strategic planning officer, who should report directly to the company's CEO and board of directors.
A principal may generally revoke the authority of an agent at any time by notifying the agent
Indicate whether the statement is true or false