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Questions and Answers
What is brand equity?
What is brand equity?
- The exclusivity offered by the company for its product
- The identity or attachment of a brand to a product
- The legal security provided to the product
- The premium and reputable value a brand can command in the market (correct)
What is one advantage of branding mentioned in the text?
What is one advantage of branding mentioned in the text?
- It makes it easy for the business to trace problems and process orders due to brand identity
- It provides legal security to the product exclusivity offered by the company
- It creates a corporate image and identity
- It reduces harm to company reputation if the brand fails due to its established reputation (correct)
What does building a brand name involve according to the text?
What does building a brand name involve according to the text?
- Creating a corporate image and identity
- Developing a loyal and profitable group of buyers
- All operations necessary to build and nurture a brand into a consumer’s mind for a healthy cash flow stream (correct)
- Providing legal security to the product exclusivity offered by the company
What are the benefits of creating a power brand mentioned in the text?
What are the benefits of creating a power brand mentioned in the text?
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How does establishing a name and brand equity impact the market competition according to the text?
How does establishing a name and brand equity impact the market competition according to the text?
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