Question

What is meant by brand equity in marketing?

Answer 1

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It is a marketing term that describes a brand's value. Brand value is determined by active consumer and perception of and experiences of the users with the brand. 
Value of having a well-known brand name like "Apple", "nike", "adidas" and "Google" would have high brand equity than lesser-known brands. Based on the brand recognition the owner of that brand name can generate more revenue from products than the others having no or less brand recognition.

Answer 2

Explanation:

Brand equity is a marketing term that describes a brand's value. That value is determined by consumer perception of and experiences with the brand. Positive brand equity has value: Companies can charge more for a product with a great deal of brand equity.

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