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Question
Explain the advantages of branding to consumers.
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Solution
- Shopping consumes less time as branded products can be easily identified.
- The quality of branded products undoubtedly is better.
- Prices of branded products are fixed by the companies themselves, and there are no frequent changes.
- The branded products are responsible for their usefulness.
- Branding helps consumers to identify and recognise the product. It simplifies, therefore, purchase and sale and reduces the time and effort involved therein.
- Branding ensures uniform standards of quality and design to consumers.
- Prices of branded and standardised products are fixed by the manufacturer. They are printed on the product and become well-known to consumers. As a result, unscrupulous retailers cannot exploit consumers by overcharging.
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Comment upon the following:
Branding is a myth not a reality.
