Benefits of Strong Brand Equity:
- Pricing Power: Brands with strong equity can command higher prices.
- Competitive Advantage: Strong brands are less susceptible to competitive market forces.
- Customer Loyalty: Customers are more likely to stay with a brand they recognize and trust.
- Improved Marketing Efficiency: Established brands have an easier time introducing new products due to existing brand awareness.
- Increased Financial Returns: High brand equity often leads to increased business performance and stock price.
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