A Successful Trademark Is One That Becomes a Generic Name

question 244

True/False

A successful trademark is one that becomes a generic name for a product, for example, "Kleenex" has become a generic term for tissues.

---

Definitions:

Cross-Price Elasticity

A measure of how the demand for one good responds to a change in the price of another good.

Income Elasticity

A measure of how much the demand for a good changes in response to a change in consumer income.

Demand

The quantity of a good or service that consumers are willing and able to purchase at various prices during a given period of time.

Cross-Price Elasticity

The responsiveness level of the quantity of a product needed when there's a fluctuation in the price of another product.