Match Each Item with the Correct Statement Below

question 181

Multiple Choice

Match each item with the correct statement below.
-_____ is the second level of brand loyalty at which buyers rely on previous experiences with the product when choosing it,if available,over competitors' products.

• A)trade dress
• B)brand preference
• C)brand insistence
• D)generic product
• E)family brand
• F)brand equity
• G)product diversification
• H)trademark
• I)brand extension
• J)consumer innovator
• K)brand name
• L)private brand
• M)brand manager
• N)universal product code (UPC)
• O)cannibalization
• P)product liability
• Q)captive brand
• R)brand mark
• S)line extension
• T)label

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Definitions:

Opportunity Cost

The cost of forgoing the next best alternative when making a decision, representing the benefits one misses out on when choosing one option over another.

Point B

A specific position or location on a graph or diagram, used often in economic models to denote a particular outcome or situation.

Point A

A specific position or location often referenced in economic models or graphs to illustrate a particular scenario or outcome.

Opportunity Cost

The budgetary repercussion of passing on the subsequent top pick when decisions are taken.