A Distinguishing Factor Between a Brand Name and a Brand

question 61

Multiple Choice

A distinguishing factor between a brand name and a brand mark is that a brand name

• A) creates customer loyalty.
• B) consists of words.
• C) identifies only one item in the product mix.
• D) is registered with the U.S. Patent and Trademark Office.
• E) implies an organization's name.

---

Definitions:

Property Rights

Legal parameters that define the ownership and use of property, including land, buildings, and intellectual property.

Allocate Resources

The process of distributing available resources, whether material, financial, or human, among competing demands and uses in an efficient manner.

Willingness to Pay

The maximum amount a consumer is ready to spend for a good or service.

Surplus

The situation where the quantity supplied of a product exceeds the quantity demanded at a given price.