Answered: ______ is the added value endowed to…

______ is the added value endowed to products and services. Select one: a. Brand Equity b. Differentiation c. Trademarking d. Branding

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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Concept explainers

Buying

Buying is the activity that involves acquiring something of value in exchange for an asset. The acquisition could be goods or/and services. During the buying process, the exchange of value takes place between two or more parties. For instance, if you are offered a present from your relative, it can not be termed “buying” as value exchange is only from one side. Therefore, any form of gifting is not considered buying. The most common medium of exchange to facilitate buying is currency.

Question

7. ______ is the added value endowed to products and services.

Select one:
a. Brand Equity
b. Differentiation
c. Trademarking
d. Branding

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THE CORRECT ANSWER IS A) BRAND EQUITY:

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