Final answer:
Brand assets contribute to a product by differentiating it, creating intangible preferences, and influencing consumer perception and purchase behavior.
Step-by-step explanation:
Brand assets contribute to a product by differentiating it and creating intangible preferences in the minds of buyers. For example, advertising plays a role in shaping these intangible preferences by creating strong brand associations in the minds of consumers. This can lead to brand loyalty and a willingness to choose a specific brand over competitors, even if the product itself is similar.
By leveraging brand assets, companies can create a reputation for high quality, offer additional services like free delivery, or provide guarantees of satisfaction or money back. These intangible aspects, along with physical attributes, can differentiate a product and make it more appealing to consumers. Overall, brand assets contribute to a product by influencing consumer perception and purchase behavior.