Brand equity refers to the added value or goodwill that a brand name gives to a product beyond the functional benefits provided. It is the level of loyalty and trust that consumers have towards a particular brand, which can result in the ability to charge a premium price for that brand.

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Brand Equity Is

Question 145

Multiple Choice

Brand equity is:

A) the added customer value a given brand name gives to a product beyond the functional benefits provided.
B) adding customer value to the product brand through additional features or higher-quality materials, or reducing its price.
C) increasing the content contained within the brand's package without changing its size or increasing its price.
D) the net present value of the royalties the firm receives as a result of licensing its brand to other firms to manufacture and/or market.

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