Question

Mercedes-Benz is an example of a company that benefits from the added value of its successful name. This brand _____ can result in financial gain due to large market shares and less price sensitivity. awareness recognition equity association

Answer 1

Answer:

equity

Explanation:

In marketing, brand equity refers to the value that consumers assign to a specific brand. Brand equity is not something that a company can determine, it depends on the consumers' expectations, perceptions and past experiences with the brand.

Brands that have a positive brand equity, like Mercedes Benz or BMW, can actually charge a higher price for their products because consumers will accept the higher price and associate it with the brand.