Branding

“Imperfect information” leads customers to rely on ... names.

• brand

• product

• shop

• market

Consumer reliance gives companies with established brand names “market

power” over the ... they can charge.

• product

• price

• place

• promotion

Companies with respected brand names can increase prices without losing ...

• partners

• market

• sales

• image

Companies have incentives to establish ... by maintaining and improving the quality of their products.

• links

• marks

• reputations

• relations

Companies often spend a fortune on branding in their attempts to communicate their …

• homogeneity

• originality

• sameness

• identity

More products are becoming … commodities for which uniformity of size, quality and taste is absolutely essential.

• homogeneous

• alike

• comparable

• distinctive

Companies ... their products with unique brand names and associated advertising and promotional campaigns.

• promote

• differentiate

• represent

• reward

Brand names even operate in ... where the government sets product quality standards.

• marketplaces

• pick-up points

• selling points

• agencies

To ... the quality of the products they buy, consumers are right to rely not just on government standards, but also on brand names.

• assure

• distinguish

• maintain

• adjust

Companies with superior reputations, representing good past performance, have something to lose if they ... poorly.

• grade

• recourse

• act

• perform