Saffexo, a company that manufactures sports goods, hikes the prices of its entire range of athletic shoes. However, the company does not experience a fall in the sales of its shoes following the hike as the consumers continue to buy them. The information given in the scenario indicates that Saffexo has a good _____.

Question

Quizplus · Accepted Answer

The scenario indicates that despite a price increase, consumers continue to purchase Saffexo's shoes, suggesting strong brand equity, which reflects customer loyalty and perceived value.

Saffexo, a Company That Manufactures Sports Goods, Hikes the Prices