Mercedes-Benz is an example of a company that benefits from the added value of its successful name.This brand _____ can result in financial gain due to large market shares and less price sensitivity.
A)awareness
B)recognition
C)equity
D)association

Question

Quizplus · Accepted Answer

Brand equity refers to the value a brand adds to a product or service beyond the functional benefits, often leading to greater market share and less price sensitivity among consumers. Mercedes-Benz, with its strong brand, exemplifies how high brand equity can contribute to financial success.

Mercedes-Benz Is an Example of a Company That Benefits from the Added