At one time many economists were suspicious of brand names. They saw them as a barrier to entry with no benefits to consumers. In the 1970s economists began to see a possible benefit of brand names to consumers. They discovered that brand names were a way to:

Question

Quizplus · Accepted Answer

Brand names can signal quality to consumers, as they often represent a company's reputation and consistency in delivering a certain standard of product or service.

At One Time Many Economists Were Suspicious of Brand Names