Correct Answer: Assertion is true, but the reason is false.

Solution : The correct answer is (c) Assertion is true, but the reason is false.

The assertion is true. Branding helps in creating differentiation and recognition for products. Branding involves creating a unique image, name, or symbol that distinguishes a product or service from its competitors and helps consumers identify and remember it.

The reason is that branding does not play a significant role in consumer preferences and loyalty, which is not accurate. Branding does play a significant role in influencing consumer preferences and fostering loyalty. Effective branding can create emotional connections with consumers, build trust, and influence their purchasing decisions and loyalty towards a brand. Therefore, the reason is not the correct explanation for the assertion.