The four steps in the building brand equity include: (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 helps to create a distinct identity for the brand. This step lays the foundation for the subsequent steps in the brand equity building process. Lowering the price of products, incorporating higher value in products or creating market modification are not directly related to building brand equity. Easing consumers' decision making is a goal of marketing and may be a byproduct of effective brand equity building, but it is not one of the four steps in the process.

The Four Steps in the Building Brand Equity Include: (1)