A Toronto diamond distributor has developed the first branded diamond called Hearts on Fire to help smaller retailers counter the volume jewellers' aggressive price discounting. What is the purpose of this move?
A)to take away trademark rights
B)to build product identity and customer loyalty
C)to create a catchy phrase to promote diamonds
D)to combat the quality appeal of generic products

Question

Quizplus · Accepted Answer

The purpose of developing the first branded diamond called Hearts on Fire is to build product identity and customer loyalty. This will help smaller retailers counter the volume jewellers' aggressive price discounting by offering customers a unique and differentiated product with a strong brand identity.

A Toronto Diamond Distributor Has Developed the First Branded Diamond