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Brand equity refers to: Brand equity refers to: The extent to which customers are willing to pay more for a product or service. The promises made by a successful brand. The wealth or ownership stake that firms must expend to achieve branding success. The fact that brands exist not only in the real world but also in the minds of customers.

Sagot :

The level of customer willingness to pay more for a good or service is referred to as brand equity.

How does brand equity work?

A brand's value is referred to by the marketing phrase "brand equity." The way consumers perceive and interact with a brand influences its value. A brand has good brand equity if consumers are fond of it.

What is an example of brand equity?

Apple is a prime example of a brand with strong brand equity. Although Apple devices share many characteristics with other companies, the company's price premium, client loyalty, and demand are among the highest in the consumer technology sector.

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