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Examples of Evoked Set in the following topics:
Which of the following refers to the basic problem solving benefits that consumers seek in a product?core customer value --comprises the basic problem-solving benefits that consumers seek in a product.
What is the term used when a company's products are so closely related that sales of one brand take away sales from the other brand?Market cannibalization is a loss in sales caused by a company's introduction of a new product that displaces one of its own older products. The cannibalization of existing products leads to no increase in the company's market share despite sales growth for the new product.
What can be determined by looking at brand awareness perceived value and brand associations and brand loyalty?Brand Equity, the value of a brand, is largely determined by four key elements: brand awareness, brand attributes and associations, perceived quality, and brand loyalty.
What are the two basic types of brand ownership strategies?There are two basic brand ownership strategies: manufacturer brand and retailer/store brand. Explain the different between those two brands ownership strategies and give example for each. Brands can be owned by any firm in the supply chain, whether manufacturers, wholesalers or retailers.
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