What is brand equity?
Practice Questions
Q1
What is brand equity?
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The total sales of a brand
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The value added to a product by having a well-known brand name
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The cost of producing a brand
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The number of products a brand offers
Questions & Step-by-Step Solutions
What is brand equity?
- Step 1: Understand that brand equity is about the value of a brand.
- Step 2: Recognize that a well-known brand can make a product more desirable.
- Step 3: Realize that this added value can influence how people decide to buy products.
- Step 4: Think of examples, like how people might choose Coca-Cola over a generic soda because of the brand name.
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