What is ingredient branding? Why would manufacturers want to engage in ingredient branding?
What will be an ideal response?
Ingredient branding is a form of cobranding in which branded materials are used as ingredients or component parts of other branded products. The practice of ingredient branding has two primary benefits. First, it attracts customers to the host brand because the ingredient brand is familiar and has a strong brand reputation for quality. Second, the ingredient brand's firm can sell more of its product, not to mention the additional revenues it gets from the licensing agreement.
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Milt Alden says that his line workers "know each product like the back of their hands," and that this knowledge helps the company keep its prices low. This indicates that Alden Manufacturing most likely uses which of the following strategies?
A) cost-plus pricing B) skimming prices C) the experience curve D) break-even pricing E) prestige pricing
In cross-border business, successful managers ________
A) adhere to a self-reference criterion B) are empathetic to cultural differences C) overly emphasize the importance of business jargons in facilitating effective cross-cultural communication D) ritually avoid analyzing awkward situations in cross-cultural encounters