brand

Examples of brand in the following topics:

• Advertising and Brand Management in Monopolistic Competition

  • Two ways to do this is through advertising and cultivating a brand.
  • Advertising is generally used by businesses to cultivate a brand .
  • A brand is a company's reputation in relation to products or services sold under a specific name or logo.
  • A brand and the associated reputation are built on advertising and consumers' past experiences with the products associated with that brand.
  • Brands and advertising can thus help guarantee quality products for consumers and society at large.

• Product Differentiation

  • For example, a generic brand of cereal might be exactly the same as a brand name in terms of quality.
  • However, consumers might be willing to pay more for the brand name despite the fact that they cannot identify why the more expensive cereal is of higher "quality. "
  • Kool-Aid is an individual brand that competes with Kraft's other brand (Tang).

• Determinants of Price Elasticity of Demand

  • Brand loyalty: An attachment to a certain brand (either out of tradition or because of proprietary barriers) can override sensitivity to price changes, resulting in more inelastic demand.

• Demand Curve

  • As a result, a business that works on its branding can increase its prices without risking its consumer base.

• Defining Comparative Advantage

  • For example, having good brand recognition or relationships with suppliers is a competitive advantage, but not a comparative advantage.

• Defining Capital

  • Social Capital is capital that is captured as goodwill or brand value.

• Defining Monopolistic Competition

  • Monopolistic competition is a type of imperfect competition such that many producers sell products that are differentiated from one another as goods but not perfect substitutes (such as from branding, quality, or location).

• Corporations

  • They have an advantage in the marketplace because many consumers are attracted to well-known brand names, which they believe guarantee a certain level of quality.

• Imperfect Competition and Monopolistic Competition

  • Smoking a (given brand) makes one sexier or more macho, independent or whatever.

• Entry and Exit of Firms

  • The presence of established strong brands within a market can be a barrier to entry in this case.