Asked by Tracy Winter on May 23, 2024
Verified
What is a brand? How do brands benefit both customers and firms?
Brands
Names, terms, designs, symbols, or any other features that identify one seller's goods or services as distinct from those of other sellers.
Benefit
Refers to the value or advantage that customers obtain from a product or service, which meets their needs or solves their problems.
Customers
Individuals or organizations that purchase goods or services from a business, playing a crucial role in the business's success.
- Explain the components that make up a brand.
- Acknowledge the significance of consumers in mirroring brand value.
- Examine the essential components involved in establishing a brand.
Verified Answer
Learning Objectives
- Explain the components that make up a brand.
- Acknowledge the significance of consumers in mirroring brand value.
- Examine the essential components involved in establishing a brand.
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