Brand Equity Is

question 89

Multiple Choice

Brand equity is:

• A)the resources invested to create a name, phrase, design, symbol, or combination of these to identify a firm's products and distinguish them from those of its competitors.
• B)adding customer value to the product brand through additional features or higher-quality materials, or reducing its price.
• C)the value of a brand that results from the favourable exposure, interactions, associations, and experiences that consumers have with a brand over time.
• D)the net present value of the royalties the firm receives as a result of licensing its brand to other firms to manufacture and/or market.

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Definitions:

Perfectly Price Discriminate

A pricing strategy where a seller charges the maximum price that each consumer is willing to pay, eliminating consumer surplus and maximizing profits.

Monopolist

An individual or entity that is the sole provider of a particular good or service in the market, possessing significant control over pricing and supply.

Profit

The surplus amount after all expenses are deducted from the total income generated by a business or investment.

Price Discrimination

Charging different prices to different buyers for identical products.