The overarching strategy in managing a brand for growth is the development of
A)brand equity
B)brand image
C)brand position
D)brand identity

Question

Quizplus · Accepted Answer

Brand equity is the ultimate goal in managing a brand for growth. It is the value premium that a company can charge for its products or services, solely based on the strength of its brand name, beyond what its generic or commodity competitors can charge. Building brand equity requires consistently delivering a high-quality product or service that meets customer needs and expectations, establishing a positive brand image and reputation, creating brand loyalty, and cultivating strong brand associations and awareness.

The Overarching Strategy in Managing a Brand for Growth Is