When consumers believe that various items provide the same set of attributes, brand recognition results. The degree to which a consumer can correctly identify a specific good or service only by looking at its logo, tagline, packaging, or marketing campaign is known as brand recognition.
An aural cue, such as a jingle or theme tune related to a brand, can also cause brand recognition. For instance, if you see the pink and orange Dunkin Donuts lettering up ahead, you would immediately recognize it as Dunkin Donuts even before you could make out the words. Identify a brand without being explicitly exposed to its name by using visual.
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For Starbucks, gaining access to local market knowledge is the main advantage of entering new markets like Japan and China via a joint venture.
After concentrating solely on the North American market for a considerable amount of time, Starbucks decided to branch out internationally.
A joint venture in Japan was Starbucks' first international expansion outside of the United States and Canada. Sazaby, Inc., owners of upmarket retail and restaurant businesses, was contacted by Starbucks. The 50/50 agreement was reached after carefully weighing Starbucks' and Sazaby's shared values, cultures, and community-development objectives. On the board of directors of the recently established Starbucks Coffee Japan, the two businesses were equally represented. Starbucks Coffee Japan achieved profitability more than two years before schedule in the fiscal year 2000. Starbucks has also faced many problems while entering Chinese market mainly due to licensing.
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For low levels of output, aggregate supply curves are comparatively flat; for high levels of output, they are comparatively steep.
<h3>What is aggregate supply? </h3>
The total amount of merchandise that businesses will produce and sell is known as aggregate supply, or real GDP. The positive association between price level and real GDP in the short run is demonstrated by the upward-sloping aggregate supply curve, also known as the short run aggregate supply curve.
Price, time, employer remuneration, technical breakthroughs, inflation and deflation, governmental rules, and the availability of resources are some of the variables that influence the aggregate supply curves.
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