Which of the following best defines "product redefinition"?

Creating a new product from scratch.

Improving the quality of an existing product.

Changing the packaging of an existing product.

Reducing the price of a product.

Category redefinition occurs when:

A product undergoes changes in its form and packaging.

Different products start competing with each other in the same category.

A product's price drops significantly in the market.

A product's benefits become consistent with its personality.

What was the primary reason behind the success of "Velvette" shampoo in the market?

It had a lower quantity of shampoo per package.

It introduced a new hair conditioner.

It was available in larger bottles.

It was made by a small-scale packaging unit.

What does the Delta Habit Factor (DHF) measure?

The price difference between two competing brands.

Changes in consumer habits related to a brand.

The number of new advertisements a brand launches.

The frequency of usage of a particular product.

What is the main idea behind brand equity?

Brand equity is determined by the price of a brand.

Brand equity adds value to a firm through price premiums.

Brand equity is calculated based on awareness and loyalty.

Brand equity depends on the number of products a firm offers.

According to Professor David Arnold, which of the following is NOT a criterion for the success of a brand?

Consistency with its personality

Intangibles besides tangible benefits

What is the main purpose of defining brand equity?

To determine the cost of creating a brand.

To assess the awareness of a brand among consumers.

To calculate the market share of a brand.

To evaluate the value added by a brand to a firm's product or service.

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