An agreement between the owner of a brand and another company or individual who pays a royalty for the use of the brand in association with a new product is brand ________.
A)extension
B)awareness
C)licensing
D)association

Question

Quizplus · Accepted Answer

Licensing is the agreement between the owner of a brand and another company or individual who pays a royalty for the use of the brand in association with a new product. Brand extension refers to using an existing brand name for a new product or product category, brand awareness is the level of familiarity consumers have with a particular brand, and brand association refers to the mental connections consumers make between a brand and various attributes such as quality, value, and personality. Therefore, the best choice is C - licensing.

An Agreement Between the Owner of a Brand and Another