In the late 1800s, consumers were willing to pay more for brands than for unmarked commodities, even if they were otherwise identical.

Question

Quizplus · Accepted Answer

This statement is true. The rise of mass production and the growth of the middle class created a demand for branded products that were seen as higher quality and more reliable. Companies began to invest in advertising and brand promotion to differentiate themselves from their competitors, and consumers were willing to pay a premium for these recognizable brands.

In the Late 1800s, Consumers Were Willing to Pay More