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3 years ago

3.3 Why are people prepared to pay more for certain brands?

Business

2 answers:

OverLord2011 [107]3 years ago

5 0

Answer:

they are more familiar with them and trust them more

bagirrra123 [75]3 years ago

5 0

Creating and publicizing a brand tends to create the perception of quality among consumers. When they perceive this, they will pay more for the good. So, the reason for this is that consumers believe that branded goods are of higher quality and therefore are worth a higher price.

Branded products often have clear, recognizable packaging when compared with unbranded products. Moreover, this branding is deliberately designed to stand out against its competitors so consumers are far more likely to notice it. Bottles of Coca-Cola, for example, stand out because they are shaped differently than regular bottles. Moreover, the labeling is immediately noticeable: a red label with white text catches the consumer's eye. If it's easier to locate, a consumer is likely to pay more for the convenience.

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STatiana [176]

Answer:

A matter of timing

Explanation:

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3 years ago

Which of the following statements about the insurance verification process is a FALSE statement? A) Directly affects payment del

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Answer:

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4 years ago

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Complete Question

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3 years ago

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geniusboy [140]

Answer and Explanation:

The journal entry is shown below:

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3 years ago

Which of the following statements about oligopolies is not correct? a. An oligopolistic market has only a few sellers. b. The ac

Finger [1]

Answer:

d. Unlike monopolies and monopolistically competitive markets, oligopolies prices do not exceed their marginal revenues.

Explanation:

An oligopoly can be defined as a market formation where in a given sector of the economy there are only a small number of competing companies offering a product or service. Its structure is formed by imperfect competition (between monopoly and perfect competition).

The difference between monopoly and oligopoly is that the number of companies that the market has will set the price of products in an oligopoly market, whereas in the monopoly only one company dominates the market and therefore that company determines the price of the good, as it is a market without competition. Therefore, alternative D is the incorrect one.

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3 years ago