Question
Brand Equity
Answer :
Word Count : 249
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Brand equity refers to the value that a brand adds to a product or service beyond its functional benefits. It represents the perception and reputation of a brand in the minds of consumers, influencing their purchasing decisions and loyalty. Strong brand equity enables companies to charge premium prices, gain customer preference, and secure competitive advantage in the market. It is built through consistent brand messaging, quality products, positive customer experiences, and effective marketing strategies. Brand equity can be divided into four key components: brand awareness, brand loyalty, perceived quality, and brand associations. Brand awareness is the extent
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