The four steps in building brand equity are: (1) developing positive brand awareness and __________; (2) establishing a brand's meaning in the minds of consumers; (3) eliciting the proper consumer responses to a brand's identity and meaning; and (4) creating an intense, active, and loyal consumer-brand connection.

Question

Quizplus · Accepted Answer

Developing positive brand awareness and an association of the brand in consumers' minds with a product class or need are essential to give the brand an identity, which is the first step in building brand equity. The other options, such as lowering prices, easing decision-making, incorporating higher value, and creating market modification, are not steps in building brand equity.

The Four Steps in Building Brand Equity Are: (1) Developing