Choice Homes,Inc. ,built its reputation by building high-quality new homes,often at prices less than "used" ones.Choice Homes used mass-purchasing power,innovative high-tech communications among employees to coordinate the building process,and other entrepreneurial strategies to hold costs down.Its homes are primarily targeted at first-time homeowners-to-be in an effort to get people out of apartments so they can experience the dream of home ownership for the same price as rent.Choice Homes later developed the "Choice Classic" brand name for higher-end homes targeted at wealthier dual-income couples.The Choice Classic name was designed to capitalize on the reputation of Choice Homes,especially for current Choice home owners who are ready to move up to a larger home.Recently,Choice Homes started a third line of homes called "Reflections," which are expensive,custom-designed homes located in exclusive,prestigious neighbourhoods.
-Refer to Choice Homes,Inc.In a recent survey,Choice Homes's customers indicated that they thought their homes were high quality,made lots of referrals to friends,and planned to buy a Choice Classic or Reflections home in the future.The customers' reactions indicate that Choice Homes has achieved which of the following?
A)generic status.
B)a private brand.
C)brand equity.
D)superficial skills.

Question

Quizplus · Accepted Answer

Brand equity indicates the brand has value because of its high awareness,perceived quality,and brand loyalty among customers.