Which of the following best defines brand equity?
A)It is a process of varying the width of the product range with the company to modify the return on investment of the company.
B)It is a process which calculates the percentage of loyal, impulsive, need-based customers, and wandering customers for a particular product.
C)It is an intangible asset of added value or goodwill that results from the favorable image and/or the strength of consumer attachment to a company name.
D)It is the process of taking help from commercial market research agents to conduct a thorough market research before entering a market with unique products.
E)It is combination of using print, guerilla, broadcast, and outdoor advertising to promote a company's products.

Question

Quizplus · Accepted Answer

Brand equity is an intangible asset that represents the added value or goodwill that a brand has developed over time due to factors such as brand awareness, positive associations, and consumer loyalty. It is a measure of the strength of consumer attachment to a company name and can be a valuable asset for a business. The other options listed do not accurately define brand equity.

Which of the Following Best Defines Brand Equity