What valuable functions can brands perform for a firm?
What will be an ideal response?
Brands perform a number of valuable functions for firms. First, they simplify product handling or tracing. Brands help to organize inventory and accounting records. A brand also offers the firm legal protection for unique features or aspects of the product. The brand name can be protected through registered trademarks; manufacturing processes can be protected through patents; and packaging can be protected through copyrights and proprietary designs. These intellectual property rights ensure that the firm can safely invest in the brand and reap the benefits of a valuable asset.
A credible brand signals a certain level of quality so that satisfied buyers can easily choose the product again. Brand loyalty provides predictability and security of demand for the firm, and it creates barriers to entry that make it difficult for other firms to enter the market. Loyalty also can translate into customer willingness to pay a higher price.
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When Tommy Hilfiger was an unknown brand, advertising announced his membership as a great U.S. designer by associating him with Geoffrey Beene, Stanley Blacker, Calvin Klein, and Perry Ellis, who were recognized members of that category
Tommy Hilfiger conveyed the brand's category membership by ________. A) relying on the product descriptor B) focusing on reliability C) comparing to exemplars D) announcing category benefits E) identifying counter examples
Hygeia Health expects to sell 460 units of Product A and 450 units of Product B each day at an average price of $15 for Product A and $33 for Product B. The expected cost for Product A is 38% of its selling price and the expected cost for Product B is 57% of its selling price. Hygeia Health has no beginning inventory, but it wants to have a six-day supply of ending inventory for each product. Compute the budgeted cost of goods sold for the next (seven-day) week. (Round the answer to the nearest dollar.)
A) $67,032 B) $66,519 C) $130,500 D) $77,606
Human resource ______ jobs are ones in which the employee focuses on a specific discipline of HR.
A. generalist B. technical C. specialist D. knowledge
Ada signed a simple discount promissory note for $5,500. The discount rate is 12%, and the term of the note is 5 months. What are Ada's proceeds on the loan?
A. $4,623 B. $5,225 C. $5,015 D. $4,515