RESEARCH ETHICS
COMMERCIALIZATION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Branding does not
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Allow firms to charge a premium
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Allow firms to charge lower prices to attract more sales
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Give a unique association to a product
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Encourage customer loyalty
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Explanation:
Detailed explanation-1: -When customers attach a level of quality or prestige to a brand, they perceive that brand’s products as being worth more than products made by competitors, so they are willing to pay more. In effect, the market bears higher prices for brands that have high levels of brand equity.
Detailed explanation-2: -Using branding to improve your marketing strategy can help your business to generate sales. This in turn will mean that your business will have a competitive advantage within your industry and ensure that your brand is your customer’s first choice when looking for the products or services that you offer.
There is 1 question to complete.