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
E) privatizing

Question

Quizplus · Accepted Answer

This describes a licensing agreement, where the owner of a brand grants permission to another company or individual to use their brand in exchange for a royalty. Brand extension refers to using an existing brand for a new product in the same category, while brand awareness refers to the level of recognition and familiarity consumers have with a brand. Association and privatizing are not directly related to this concept.

An Agreement Between the Owner of a Brand and Another