Brand equity refers to the added value that a name, term, or symbol provides to a product or service beyond its functional benefits. This includes perceptions, associations, and emotions that consumers have towards the brand. Options A, B, and D are not accurate descriptions of brand equity.

Solved

Brand Equity Is

Question 144

Multiple Choice

Brand equity is:

A) adding customer value to the product brand through additional features or higher-quality materials, or reducing its price.
B) increasing the content contained within the brand's package without changing its size or increasing its price.
C) the added customer value a given brand name gives to a product beyond the functional benefits provided.
D) the net present value of the royalties the firm receives as a result of licensing its brand to other firms to manufacture and/or market.

Correct Answer: