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Economics glossary · Firms and competition

Branding

What branding means in economics, as one of forms of non-price competition, with an example and a question to test yourself.

Definition
Branding
Branding builds a name that buyers recognise and trust, so they keep choosing the product even when rivals sell something similar for less.
Example

Can you think of an example of branding?

Test yourself

Can you name the four forms of non-price competition?

Learn it properly: the module

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