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What is a brand's equity?

Practice Questions

Q1
What is a brand's equity?
  1. The financial value of a brand
  2. The total sales of a brand
  3. The market share of a brand
  4. The production cost of a brand

Questions & Step-by-Step Solutions

What is a brand's equity?
  • Step 1: Understand that a brand is a name, symbol, or design that identifies a product or service.
  • Step 2: Recognize that brand equity is about how much value a brand has in the market.
  • Step 3: Know that this value comes from how consumers feel about the brand based on their experiences.
  • Step 4: Realize that positive feelings and experiences can increase a brand's equity, making it more valuable.
  • Step 5: Remember that brand equity can affect a company's profits and market position.
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