00:01
So for this problem, we're talking about what gives customers better products not offered by other competitors.
00:07
Okay, so the key thing to recognize here is that it's not like perception of a product being better.
00:15
It is the quality of the product itself being better.
00:18
So then if we look at our options here, a, competitive advantage, b, branding, c, advertisements, and d marketing strategy.
00:25
We see that b, c, and d all flow into that idea of perception.
00:30
So basically, what all those things do, branding, advertisements, and marketing is try to influence a consumer's perception of the product itself...