The role of brand names and advertising Which of the following statements about

Question

The role of brand names and advertising Which of the following statements about brand names is true? It is always rational to prefer brand names over generic substitutes. Brand names are always economically wasteful since they dupe consumers into buying more expensive goods and services that are no different from generic versions. Brand names give the seller an incentive to provide consistently high-quality products and services in order to protect the reputation of the brand. Read the following example and determine whether it illustrates a common critique or defense of advertising. While shopping for soda, Poornima is trying to determine whether to purchase the generic cola or the brand ZCola. Although she would not notice the differ rent the two in a blind taste test, she buys the higher-priced ZCola because she has seen it advertised as being "The drink that critique parties. This illustrates a common of advertising.

Explanation / Answer

A. Statement 4 about the brand name that Brand names give the seller an incentive to provide consistently high quality products and services in order to protect reputation of the brand.

B. The given example illustrates a common critique of advertising.

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