Brand Name Importance to a Company Has Led to a Concept

question 334

Multiple Choice

Brand name importance to a company has led to a concept called brand equity, the added value a brand name gives to a product beyond the functional benefits provided.This value has two distinct advantages: (1) it creates a competitive advantage and (2)

• A)customers are often willing to pay a higher price.
• B)there is little if any need for advertising past the introductory stage.
• C)decision making becomes easier for consumers.
• D)there is no need for coupons, discounts, or other customer incentives.
• E)new market segments seem to create themselves.

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Definitions:

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An ideology that all human beings belong to a single community, based on a shared morality, regardless of nationality, ethnicity, or local affiliations.

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