The American Marketing Association defines a brand as "a name, term, sign, symbol, or design, or a combination of them, intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors."

According to Kotler a brand is a name a sign or combination of these to distinguish one product from the others. People often associate and develop relationships with the brand so that they can trust rely and depend on for future purchase.

According to Kotler's definition a brand must be distinguished from the other products and then it must have a desirable place in the minds of the consumers. That is the brand is as good as the customers think.

6 0

3 years ago

_____________ are sunk costs because the company will have to pay the cost no matter production or other variables in operations

Lina20 [59]

Answer:

E. Fixed Costs

Explanation:

Here are the options to this question :

A. Variable Costs

B. Labor Costs

C. Total Costs

D. Raw material Costs

E. Fixed Costs

Sunk costs are costs that have already been incurred and cannot be recovered. They should not be considered when making future economic decisions.

Fixed cost is cost that do not vary with production. e.g. rent

Most companies pay rent per year. if due to unforeseen contingencies, sales and profit of the company declines and the company decides to shut down production, the company has already paid for rent, this amount cannot be recovered even though the company would not be using the space for sometime. So, rent is an example of sunk cost

6 0

3 years ago