Answer:
Brand equity, like that enjoyed by coca-cola, results from favorable consumer experience with a product.
Explanation:
Brand equity is a term that describes the value of a brand based on the reputation of its products in the market. As in the case of the coca-cola brand equity is achieved because the product is liked by a huge number of customers.
Brand equity also has a wide effect on the financial status of a company. The product that is more valued will be sold more. Even increasing the price for that product wouldn't matter as the brand would already have set its name in the market.
In most cases, the supply curve is drawn as a slope rising upward from left to right, since product price and quantity supplied are directly related (i.e., as the price of a commodity increases in the market, the amount supplied increases). ... A change in any of these conditions will cause a shift in the supply curve.
Answer:
$900
Explanation:
The computation of the amount of the overhead allocated is shown below:
But before that the predetermined overhead rate is
As we know that
Predetermine overhead rate is
= Estimated manufacturing overhead ÷ estimated direct labor hours
= $450,000 ÷ $150,000
= $3
Now the overhead allocated is
= 300 direct labor hours × $3
= $900
Brand equity provides a financial advantage for a brand's owner because successful, established brand names have an economic value in the sense that they are intangible assets that can be bought or sold.
<u>Explanation:</u>
The commercial value of a well-established brand name based on the perception of the consumer. It is significant as the brand equity reflects in the price of the service or products and this can be considered as an asset to the brand.
The established brand name would help the concern in welcoming a wide range of customers thereby having enough profits and goodwill.
The following factors stimulate the consumers to buy the brands that have high brand equity,
- Fanaticism for the brand
- Brand loyalty
- Professional image
- Social acceptance
- Brand confidence
For example, Apple has a high brand equity. In spite of the similarity in terms of features to other brands, the loyalty of the customers, the demand and price premium remains the highest among all other companies in the consumer tech industry.
