Which of the following is an advantage of own-brand names for a business?

Having own-brand names provides a competitive advantage in the market for a business in several ways. First, it allows the business to establish a unique identity that differentiates its products from those of competitors. This brand recognition can foster customer loyalty, encouraging consumers to choose the own-brand product over generic options or established brands.

Moreover, own-brand names enable businesses to control pricing strategies. By managing their branding, businesses can maintain better profit margins and potentially reduce reliance on external suppliers, as they may be able to source materials more cost-effectively or produce in-house.

Additionally, with effective marketing and positioning, own-brand products can attract new customer segments, driving sales and expanding the business's reach.