Assignment task: Please help answer the following 5 questions. Relevant information and references are below the questions. Thanks.
Q1) What are the benefits for customers from branding efforts by firms? Use several examples to make your case. (See attachment for details)
Q2) How can you relate the different models of brand equity in this chapter to each other? How are they similar? How are they different?
Q3) Given that the power of a brand resides in the minds of consumers and how it changes their response to marketing, describe an approach to measure Brand Equity at a point in time. It works best if you take a brand you "love" and use it to build-up the response.
Q4) Johnson & Johnson has been able to establish strong brand equity for its line of baby products. What benefits does J&J have because of its brand equity for these products? Be specific- using real world examples.
Q5) Red Bull enlisted college students as "Red Bull student brand managers" to distribute samples, research drinking trends, design on-campus product promotion activities, and draft stories for student newspapers. From a marketing management perspective, which of the many "drivers" of brand equity is most applicable in the given scenario? Why?