Strong Brands Can Have Positive Effects on Consumer Perceptions and Preferences

question 54

Multiple Choice

Strong brands can have positive effects on consumer perceptions and preferences and this in turn leads to brand _______, where satisfied customers continue to purchase a favoured brand.

• A)lethargy
• B)loyalty
• C)costs
• D)differentiation

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Definitions:

Total Cost Concept

The total cost concept is an approach in economics and accounting that considers all costs related to the production and delivery of a product or service, including fixed, variable, and indirect costs.

Rate of Return

The gain or loss on an investment over a specified period, expressed as a percentage of the investment’s cost.

Markup Percentage

The fraction applied on top of the buying price of products to include expenses for overhead and yield a profit.

Markup Percentage

The percentage by which the cost of a product is increased to determine its selling price.