The Process of Increasing the Productivity and Standard of Living

question 116

Multiple Choice

The process of increasing the productivity and standard of living of a society is called:

• A) Westernization.
• B) modernization.
• C) industrialization.
• D) development.

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Definitions:

Private-label Brands

Brands that are owned by a retailer or supplier but contracted out to another manufacturer to produce.

Co-branding

A marketing partnership between at least two different brands of goods or services, aiming to combine the market strength, brand awareness, positive associations, and cachet of two or more brands to compel consumers to pay a greater premium for them.

Brand Dilution

The weakening of a brand's strength or value due to its overuse, mismanagement, or excessive extension into areas outside its core competencies.

Brand Extension

The strategy of using an existing brand name to launch a new or modified product in a different category.