Definition of Brand Equity
A brand is a name or a symbol of a company for a product. When a company develops a new product, branding is a very important step. The brand gives a certain value to a product; the value depends on the consumer's opinion - if the product is well recognized in the minds of them or not. This phenomenon is called brand equity- the tangible and even more, the intangible value that a brand adds to a product or to a service.
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