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"Apple" is one of the world's leading brands - Leaving Cert Business - Question 2 - 2014
Question 2
"Apple" is one of the world's leading brands. Outline two benefits of having a brand name. (i) (ii)
Worked Solution & Example Answer:"Apple" is one of the world's leading brands - Leaving Cert Business - Question 2 - 2014
Step 1
(i) Makes product more easily identifiable
Answer
A strong brand name helps consumers recognize and remember a product easily, which simplifies the purchasing decision. This distinctiveness allows customers to identify Apple products quickly among competitors, fostering a sense of trust and reliability.
Step 2
(ii) Creates customer (brand) loyalty
Answer
Having a well-established brand name encourages customer loyalty. Consumers often prefer to buy from brands they trust, which can lead to repeat purchases and long-term relationships between the brand and its customers. This loyalty can be particularly beneficial during economic downturns or increased competition.