Question
Download Solution PDFGiven below are two statements labelled as Assertion (A) and Reason (R).
Assertion (A): Every product or service should be branded otherwise they will be treated as commodity.
Reasons (R): If the product or service is branded then it always commands a higher price.
Read the statements and choose the correct answer from the options given below:
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFBranding
- Branding is giving your company a unique identity in the eyes of your target market and customers.
- Branding can identify and differentiate a product from competing goods and services.
Important Points Assertion (A): Every product or service should be branded otherwise they will be treated as commodities.
- Every good or service needs to have a brand name because a brand name gives human characteristics to an object. Otherwise, it is considered just a commodity.
- It makes it easier for you to stand out from rivals in the market
Hence, the assertion is correct that the product should be given a brand name, or else it will be considered a commodity.
Reasons (R): If the product or service is branded then it always commands a higher price.
- It need not be true that a branded product or service always fetches a higher price.
- Occasionally brands attempt to compete with their rivals by adopting a cost leadership strategy or by reducing prices.
So, the reason is not correct.
Hence, the correct answer is (A) is correct but (R) is incorrect.
Last updated on Jun 12, 2025
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