Final answer:
Successful branding is achieved by ensuring that consumers perceive a product positively, which can be done through differentiation in physical aspects, location, intangible benefits, and perceptions shaped by advertising. So, the correct answer is option a.
Step-by-step explanation:
When firms strive to build a successful brand, they often aim to ensure that consumers perceive their products positively. Four key areas where this can be achieved are: the quality, affordability, value, and differentiation of the product. For a product to be seen as differentiated, it must stand out in at least one of these areas. Firms can accomplish this through variations in physical aspects, the location from which the product is sold, intangible aspects, and the perceptions of the product.
Physical aspects could include design, features, or packaging that sets the product apart from competitors. The location often plays a role in convenience for the consumer or relates to the product's prestige. Intangible aspects might encompass brand reputation, guarantees of satisfaction, customer service quality, or other non-physical benefits associated with the product. Finally, strong perceptions of the product could be shaped through advertising and consumer experiences, often leading to brand loyalty even when there is little difference in the actual product compared to competitors.
So, the correct answer is option a.