Brand name importance to a company has led to a concept called brand equity, the added value a brand name gives to a product beyond the functional benefits provided.This value has two distinct advantages: (1) it creates a competitive advantage and (2)
A) customers are often willing to pay a higher price.
B) there is little if any need for advertising past the introductory stage.
C) decision making becomes easier for consumers.
D) there is no need for coupons, discounts, or other customer incentives.
E) new market segments seem to create themselves.
Correct Answer:
Verified
Q188: The term branding refers to
A)the licensing of
Q189: Consumer advocates believe the practice of downsizing
Q190: The added value a brand name gives
Q191: For consumers, the primary benefit of branding
Q192: When consumers think of Harley-Davidson, the image
Q194: Any word, device (design, sound, shape, or
Q195: Georgia-Pacific reduced the content of its Brawny
Q196: The apple that appears on every Apple
Q197: FIGURE 11-8 Q198: Brand equity refers to![]()
A)the resources invested to
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