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 this move meant to do?
A) create a catchy phrase to promote diamonds
B) combat the quality appeal of generic products
C) combat low-cost production of generic brands
D) build product identity and customer loyalty

Question

Quizplus · Accepted Answer

The move to develop the first branded diamond called Hearts on Fire is meant to build product identity and customer loyalty, helping smaller retailers counter the volume jewellers' aggressive price discounting. By creating a distinctive brand identity, smaller retailers can differentiate themselves from generic products and build a loyal customer base that values the quality and uniqueness of the branded diamond.

A Toronto Diamond Distributor Has Developed the First Branded Diamond