Slick It,Inc. Render is a salesperson for Slick It,Inc.Slick It does not sell products with its own brand name.Instead,its products are created for different retail stores and carry the store brand.Render thought that several changes needed to be made to a particular product,but Slick It management reminded him that the stores,not Slick It,owned the brand. However,because Slick It had been concerned about dropping sales,management listened to Render's concerns about the company's pricing.He suggested using a different pricing strategy.More specifically,he felt that the company should incorporate a multiple-unit pricing strategy because it would then allow Slick It to set a single price for multiple units.This had the potential of increasing sales and therefore profits,so management agreed to consider Render's suggestion.
-Refer to Slick It,Inc.When Render thinks of products and brands adding value to the company that sells them,which concept is he referring to?
A) Equilibrium brand
B) Brand extension
C) Generic name
D) Brand demand
E) Brand equity

Question

Slick It,Inc. ​Render is a salesperson for Slick It,Inc.Slick It does not sell products with its own brand name.Instead,its products are created for different retail stores and carry the store brand.Render thought that several changes needed to be made to a particular product,but Slick It management reminded him that the stores,not Slick It,owned the brand. ​However,because Slick It had been concerned about dropping sales,management listened to Render's concerns about the company's pricing.He suggested using a different pricing strategy.More specifically,he felt that the company should incorporate a multiple-unit pricing strategy because it would then allow Slick It to set a single price for multiple units.This had the potential of increasing sales and therefore profits,so management agreed to consider Render's suggestion.
-Refer to Slick It,Inc.When Render thinks of products and brands adding value to the company that sells them,which concept is he referring to?
A) Equilibrium brand
B) Brand extension
C) Generic name
D) Brand demand
E) Brand equity

Quizplus · Accepted Answer

Render is referring to the concept of brand equity, which is the value added to a product or service due to its brand name. Slick It creates products for different retail stores and carries the store brand, which adds value and recognition to the products. Render's concern about dropping sales also demonstrates the importance of maintaining and increasing brand equity to boost sales and profits.