Brand names are important assets that provide value to both the firm and its customers,as they communicate quality,build positive brand images,and encourage customer loyalty.This value is known as _____.

Question

Quizplus · Accepted Answer

Brand equity refers to the value that a brand brings to an organization in terms of customer perception, loyalty, and trust. It is the sum of tangible and intangible benefits that a brand provides to its customers and the company itself. This value can be measured through different metrics, such as brand recognition, brand awareness, brand loyalty, and brand associations. Therefore, the correct answer is C, brand equity. Neither service mark, brand mark, nor trade asset encapsulate the full meaning of this value.

Brand Names Are Important Assets That Provide Value to Both