Brand names are important assets that provide value to both a firm and its customers, as they communicate quality, build positive brand images, and encourage customer loyalty. This value is known as _____.
A) liquid asset
B) brand mark
C) brand equity
D) capital gain

Question

Quizplus · Accepted Answer

Brand equity refers to the value that a brand name adds to a product or service. It includes factors such as brand awareness, brand loyalty, and perceived quality, all of which contribute to the value that customers place on a brand. This value can be monetized, leading to increased market share and revenue for the firm.

Brand Names Are Important Assets That Provide Value to Both