Brand equity refers to the value inherent in a well-known brand.

Name: Brand equity refers to the value inherent in a well-known brand.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Brand equity reflects the value that is perceived by customers in a well-known brand. It encompasses the brand's reputation, recognition, and associations in the minds of consumers, which can influence their purchasing decisions and loyalty to the brand. It is an important asset that companies seek to build and maintain through marketing and branding efforts.

Brand Equity Refers to the Value Inherent in a Well-Known