Brand equity refers to the phenomenon that in the consumers' perception many brands are equivalent.

Name: Brand equity refers to the phenomenon that in the consumers' perception many brands are equivalent.
Brand: Quizplus
Rating: 4.9 (48 reviews)

Question

Quizplus · Accepted Answer

Brand equity refers to the value and strength of a brand that differentiates it from other brands in the market. It is the extent to which a brand is recognized, trusted, and preferred by customers. Therefore, brand equity does not mean that many brands are equivalent in consumers' perception.

Brand Equity Refers to the Phenomenon That in the Consumers