Which term refers to the name given by the marketer for a product?

Study for the BTEC Business – Personal Finance Exam. Test your knowledge with interactive quizzes and insightful explanations. Prepare effectively and excel in your exam!

The term that refers to the name given by the marketer for a product is the brand name. A brand name is specifically designed to distinguish one company's product from that of others in the marketplace. It encapsulates the identity, values, and promises associated with the product, creating a sense of recognition and loyalty among consumers. Effective brand names often evoke specific perceptions or feelings and contribute significantly to brand equity.

In contrast, model name refers to a specific version or variant of a product within a brand, product type indicates the category or classification of the product, and service name pertains to the naming of services – none of which captures the overarching identity that a brand name represents. Thus, the selection of brand name is crucial in marketing strategies as it can influence consumer perception and decision-making.

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