Question

Which two of the following are steps in building brand equity?

Multiple select question.
protect the brand through trademark
create a consumer-brand connection
establish a brand's meaning in the consumers' minds
calculate an ROI for branding expenditures

Answer 1

The two steps in building brand equity are creating a consumer-brand connection and establishing a brand's meaning in the consumers' minds.

Step-by-step explanation:

The two steps in building brand equity are:

1. Create a consumer-brand connection: Building a connection between the brand and the target consumers is key to developing brand equity. This can be done through various marketing strategies and tactics that aim to establish a positive emotional connection, trust, and loyalty.
2. Establish a brand's meaning in the consumers' minds: Creating a strong brand identity and positioning in the minds of consumers helps differentiate the brand from competitors. This can be achieved through consistent messaging, brand values, and unique selling propositions.

The other two options listed, 'Protect the brand through trademark' and 'Calculate an ROI for branding expenditures,' are not direct steps in building brand equity but are important considerations in brand management and evaluation.