Firms spend millions of dollars annually to build brand equity, recognizing that brand equity contributes to

Name: Firms spend millions of dollars annually to build brand equity, recognizing that brand equity contributes to
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Brand equity contributes to profitability by increasing consumer loyalty, allowing firms to charge premium prices, and increasing market share. A strong brand also contributes to cost savings in marketing and advertising efforts.

Firms Spend Millions of Dollars Annually to Build Brand Equity