Brand ________ refers to the extent to which a consumer holds strong,favourable and unique associations with a brand in memory-and the extent to which the consumer is willing to pay more for the branded version of a product than for a non-branded version.

Question

Quizplus · Accepted Answer

Brand equity refers to the value a brand holds in the minds of consumers, including their loyalty, awareness, and willingness to pay a premium for the branded product over a non-branded one. This value is built over time through effective branding strategies and can contribute to a company's long-term success.

Brand ________ Refers to the Extent to Which a Consumer