What are the benefits to an organization of brand equity?
What will be an ideal response?
Brand equity is the value the organization gains from the positive perception that customers have of a firm's product. There are three benefits of brand equity. Strong brand equity increases the firm's chances of succeeding in a very competitive environment as a customer who is loyal to a brand is less likely to try the competition. A company that has high brand equity can also assist a firm to expand into new markets because customers are familiar with the reputation of the brand. Lastly, consumers will judge a product's quality based on the positive perceptions they have of the brand.
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A) other people besides the writer have noticed the problem. B) the problem may need more explanation. C) the recommendation section appears early in the report. D) persuasion is not a concern of the writer.
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Indicate whether the statement is true or false
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Answer the following statement true (T) or false (F)