Branding

Question 1

What is a brand

Answer 1

A product that is produced by one business using a specific name p. Branding involves yeh creation of indentity

Question 2

What does branding do

Answer 2

1) Customers have perception of what to expect
2) a brand is a trademark
3) branding can add value to a product allowing firms to charge higher price and lead to brand loyalty

Question 3

What is competitive advantage

Answer 3

A feature of a business that allows it to perform more successfully than others in its market

Question 4

What are the benefits from branding

Answer 4

1) increase customer loyalty
2) change higher prices
3) brand extension
4) brand value
5) brand personality

Question 5

What are the problems with Branding

Answer 5

1) higher costs
2) constant promotion
3) bad events affect reputation
4) brand names have to be protected