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Questions
Explain the following term/concept in detail:
Branding
Explain the meaning of Branding.
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Solution
Every entrepreneur desires a distinct market identity for his product. Branding is the process of giving a product a unique identity through a unique brand name in order to distinguish it from competitors’ products. Simply put, branding is the process of giving a unique name to one’s product.
Trademarks are registered brands.
Trademarks cannot be copied. Branding aids in consumer recognition. It can help to generate new business and raise brand awareness in the market.
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RELATED QUESTIONS
Write a word/term/phrase for the following sentence.
Giving of distinct name to one’s product.
Explain the following term/concept.
Labeling
Study the following case/situation and express your opinion.
| Mr. X purchases goods from the nearest shop. Mr. Y purchases mobiles from Tokyo. Mr. Z of Nandurbar purchases electronic goods from Delhi. |
- From which type of market does Mr. X purchase?
- Name the type of market from where Mr. Y deals?
- State the type of market from where Mr. Z purchases goods?
Give one word or phrase or a term which can substitute the following.
A process of giving special identity in the market for product.
Explain the following term/concept in detail.
Pricing of Product
Product designing and development primarily aims to:
Grading is the process of:
Promotion means:
Physical distribution includes important decisions relating to:
Storage ensures smooth availability of products and protects against:
