Which of the following best defines brand equity?
A)It is a process of varying the width of the product range with the company to modify the return on investment of the company.
B)It is a process which calculates the percentage of loyal, impulsive, need-based customers, and wandering customers for a particular product.
C)It is an intangible asset of added value or goodwill that results from the favorable image and/or the strength of consumer attachment to a company name.
D)It is the process of hiring commercial market research agents to conduct a thorough market research before entering a market with unique products.
E)It is combination of using print, guerilla, broadcast, and outdoor advertising to promote a company's products.

Question

Quizplus · Accepted Answer

Brand equity refers to the value that a brand possesses due to consumer perception and attachment to the brand name. It is an intangible asset that adds value to a company's reputation and product offerings. It is not related to modifying the product range, calculating customer types, conducting market research, or advertising methods.

Which of the Following Best Defines Brand Equity