Branding And Differentiation - Unit 3

Question 1

What is a brand?

Answer 1

A named product which consumers see as being different from other products and which they can associate and identify with.

Question 2

Branded products are good because… Name at least 2

Answer 2

• Consumers trust brands, leading to repeat purchases
• Brands can often charge premium prices
• Consumers have greater awareness
• Encourage customer loyalty

Question 3

You can differentiate a product by improving the… (name at least 2)

Answer 3

• Catchy brand name
• Quality
• Design or function
• Packaging
• Customer service

Question 4

Product differentiation helps a business to: (2)

Answer 4

• Target different market segments

* Gain an advantage over rivals when faced with competition