Question

Adam wants to buy a washing machine and is looking for something that is not too expensive. When he goes to make the purchase, he finds there are two options that meet his requirements. One is a Maytag product, while the other is a newly imported South Korean brand. Adam is not very familiar with the latter and does not hesitate in choosing Maytag. This example implies that ________.

Answer 1

Answer: Maytag has positive customer-based brand equity

Explanation:

The situation described in the question shows that Maytag has a positive customer brand equity. Customer brand equity measures the consumers reaction to a particular product and how it generally affects the success of that company producing that product, the equity is positive if the consumers are easily drawn to a certain product.