A Boston diamond distributor has developed the first branded diamond called Hearts on Fire to help smaller retailers counter the volume jewelers' aggressive price discounting.This move is meant to:
A) take away trademark rights
B) build product identity and customer loyal
C) create a catchy phrase to promote diamonds
D) combat the quality appeal of generic products
E) combat low-cost production of generic brands

Question

Quizplus · Accepted Answer

The development of the Hearts on Fire brand is aimed at building product identity and customer loyalty for smaller retailers, allowing them to compete with larger volume jewelers who engage in aggressive price discounting. By creating a recognizable and trusted brand, these retailers can establish a competitive advantage based on quality and customer loyalty rather than simply low prices.

A Boston Diamond Distributor Has Developed the First Branded Diamond