Tide laundry detergent commands an extremely high market share. Purchasers of the product are less sensitive to price changes, in part because of the high brand insistence rate. Based on this assessment, it can be said that Tide has extremely high brand equity.

Question

Quizplus · Accepted Answer

High brand equity is indicated by a strong brand preference and loyalty among consumers, which leads to less sensitivity to price changes. Tide's high market share and brand insistence rate are clear indicators of its strong brand equity.

Tide Laundry Detergent Commands an Extremely High Market Share