What are national brands, private brands, and generic products?
What will be an ideal response?
Answer: Brands offered and promoted by a national manufacturer, such as Procter & Gamble's Tide detergent and Pampers disposable diapers, are called national brands. Private brands are not linked to a manufacturer but instead carry a wholesaler's or a retailer's brand. These store brands have become a major force in the grocery business, as they have overcome an early reputation for lower quality and have become more widely accepted by consumers. As an alternative to branded products, some retailers also offer generic products, which are packaged in plain containers that bear only the name of the product.
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While Akerlof described adverse selection in the used car market, can you think of how adverse selection might arise in the labor market? Or even in dating?
________ is a framework or blueprint for conducting the marketing research project. It specifies the details of the procedures necessary for obtaining the information needed to structure and/or solve marketing research problems
A) Research classification B) Research design C) Design formulation D) None of the above