What Are The Components Of Brand Equity?

What Are The Components Of Brand Equity?
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  1. Following are the components on which brand equity is dependent:
    1. Brand awareness: It is the first step in building brand equity. The customers should be aware of your brand presence.
    2. Brand associations: It plays an important role in repeat sale and word of mouth marketing.
    3. Perceived quality: Brands perceived quality affects its positioning and pricing decisions which in turn affect the brand equity.
    4. Brand experience: A superior experience with brand results in satisfied customer. Satisfied customers prefer a brand over others hence affecting the brand equity.
    5. Brand loyalty: Brand loyalty plays a key role in repetitive purchase of products and word of mouth marketing.

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