Question

Brand ------- is the added value endowed to products and services.

a. loyalty

b. equity

c. preference

d. satisfaction

e. benefits

Answer 1

A) loyalty...........!!

Answer 2

Option (b). The added value bestowed to products and services is "Brand equity."

Explanation:

• When a product obtains a recognizable name in the customer market, the surplus or premium generated from it is called "brand equity."
• It is the value that is added to the product when the customer prefers that product over another company's generic equivalent.
• The brand equity helps the companies to gain profit margin while producing the product at the same costs as other competitors in the market for that range of products. It gives the company preference over its competitors.
• Since the customers are attracted to the products and services of the company after achieving brand equity, it has a direct impact on the sales and profitability of the company.
• The basis for comparison between the companies who work in the same sector or industry is "Brand equity."