________ Refers to the Value Inherent in a Well-Known Brand

question 4

Multiple Choice

________ refers to the value inherent in a well-known brand name and stems from the consumer's perception of the brand's superiority,the social esteem that using it provides,and the customer's trust and identification with the brand.

• A) Licensing
• B) Brand equity
• C) Family branding
• D) Brand loyalty
• E) Encoding

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Definitions:

Termination of Offer

The revocation or withdrawal of a proposal by the offeror before it has been accepted by the offeree.

Counteroffer

A proposal made in response to an original offer, modifying its terms and conditions, which effectively rejects the initial offer.

Material Term

A significant provision in a contract that notably affects the rights and obligations of the parties involved.

Elements of Offer

The criteria that must be met for a proposal to be considered a valid offer in contract law, typically including intent, definiteness, and communication to the offeree.