The Element That Makes the Brand Distinctive from Other Competing

question 41

Multiple Choice

The element that makes the brand distinctive from other competing brands such as symbols, features, images and relationships is referred to as which of the following?

• A)Brand assets
• B)Brand reflection
• C)Brand association
• D)Brand value

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Definitions:

Cost of Goods Sold

An accounting term denoting the direct costs attributable to the production of goods sold by a company.

FIFO

"First In, First Out," an inventory valuation method where the goods first added to inventory are the first to be sold.

Gross Profit Method

An estimating technique used to calculate inventory cost, based on the gross margin and cost of goods sold.

Gross Profit Ratio

A financial metric indicating the percentage of revenue that exceeds the cost of goods sold; it is calculated by dividing gross profit by net sales.