How will you do in our end-of-month branding trivia exercise?
Trivia Question #1
Regarding customer loyalty, what should newer, faster growing brands focus on as an indicator of brand health and what should more established brands watch for as an indicator of brand health?
Trivia Question #2
In most product categories, price is the primary purchase incentive for what percent of all customers?
Trivia Question #3
Which is the most predictive of brand market share? (a) brand loyalty, (b) brand value, (c) brand penetration, (d) brand awareness, or (e) brand differentiation?
Answers:
Trivia Question #1 Answer
Newer, faster growing brands should focus on the number of new loyal customers, while more established brands should track the number of lost loyal customers.
Trivia Question #2 Answer
15% to 35%
Trivia Question #3 Answer
(c) brand penetration. Brand penetration is the most predictive of band market share. It does not guarantee profitable market share however. For instance, if it is achieved by “buying” distribution (by paying retailers high sales terms), it will result in high market share at reduced profit margins. For profitable market share gains, one must focus on all of the drivers of customer brand insistence: awareness, accessibility, value, relevant differentiation and emotional connection.
How did you do?
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