Question

Brand equity is

The resources invested to create a name, phrase, design, symbol or combination of these to identify a firm's products and distinguish them from those of its competitors
Adding customer value to the product brand through additional features or higher-quality materials or reducing its price
Increasing the content contained within the brand's package without changing its size or increasing its price
The net present value of the royalties the firm receives as a result of licensing its brand to other firms to manufacture and/or market
The added customer value a given brand name gives to a product beyond the functional benefits provided

Answer 1

(E) The added customer value a given brand name gives to a product beyond the functional benefits provided

Step-by-step explanation:

Brand equity, for companies, refers to the value that their brand creates for customers. The concept that the term defines, describes how companies that have better brand recognition compared to its competitors, can generate higher profits compared to companies that don’t. This is because customers perceive that well-known brands have higher product quality, or is more trustworthy compared to unknown brands.