ECONOMICS
TECHNOLOGY
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Their quality is always superior
|
|
|
Name brand products pay for advertising which adds to the cost of the products
|
|
|
The labeling costs more because it is fancier
|
|
|
Both labeling and advertising adds cost to name brand product
|
Detailed explanation-1: -One reason name-brand items are more expensive is because it costs money to market those products to the public. Consumers pay the price for those commercial jingles that stick in their heads. Most store-brand products are made to closely compare to their name-brand products.
Detailed explanation-2: -Product and brand: the difference Brand is the identity which differentiates that product from similar items on the market. The main differences? While products can be replaced and copied, brands are permanent and unique. And whereas a product might offer you something you need, a brand provides something you want.
Detailed explanation-3: -One of the most important benefits of branding is that it helps to promote new products and services. If people are loyal to a brand, they are automatically interested in whatever new the brand has to offer.
Detailed explanation-4: -Private label products bring ten percent higher profit margins, on average, than manufacturers’ brands because: private labels sell products of superior quality. private label products are sold only to the niche target market. overhead cost is low and there are no marketing costs in private labels.