The unique benefit that a product enjoys due solely to its brand name is known as its brand equity.

Question

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Brand equity refers to the value a brand adds to a product or service beyond what the physical product or service itself provides, based on factors such as customer perception, recognition, and association with the brand name. This unique benefit only applies to a product because of its specific brand name, making the statement true.

The Unique Benefit That a Product Enjoys Due Solely to Its