The value that brand image offers retailers is referred to as:
A) brand loyalty
B) brand position
C) product loyalty
D) brand equity
E) category awareness

Question

Quizplus · Accepted Answer

Brand equity refers to the value that a brand adds to a product, beyond the functional benefits it provides. It represents the perceived value of the brand in the minds of consumers, including their attitudes, associations, and preferences. Brand equity helps retailers by enhancing their reputation, creating customer loyalty, and increasing the perceived value of their products. By building a strong brand image, retailers can differentiate their products from competitors, charge premium prices, and generate higher profits.

The Value That Brand Image Offers Retailers Is Referred to As