The Added Value a Brand Name Gives to a Product

question 170

Multiple Choice

The added value a brand name gives to a product beyond the functional benefits provided is referred to as __________.

• A)brand caché
• B)brand net worth
• C)brand equity
• D)brand benefit
• E)brand enhancement

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Definitions:

Productivity Growth

Productivity growth refers to the increase over time in the output of goods and services per unit of input, indicating an improvement in efficiency and economic health.

Standard of Living

The degree of prosperity, ease, consumer goods, and basic needs accessible to a specific social class or location.

GDP

Gross Domestic Product, a monetary measure of the market value of all final goods and services produced in a country during a specific time period.

Labor Productivity Growth

An increase in the amount of goods and services produced per hour by the workforce.