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 association is the first step in building brand equity and involves creating a strong identity for the brand in consumers' minds by associating it with a product class, need, or benefit. Lowering prices or incorporating higher value in products can be tactics used to build brand equity but do not fall under the specific steps in the process. Eliciting proper consumer responses and creating a loyal consumer-brand connection come after establishing brand meaning and awareness. Creating market modification and easing consumers' decision making are not part of the four steps in building brand equity.

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