Question

Many consumers associate Mercedes automobiles with status, luxury, quality engineering, and high price. This is an example of Mercedes' _____.

a) Brand equity
b) Brand image
c) Brand leverage
d) Brand position
e) Brand identity

Answer 1

Many consumers associate Mercedes automobiles with status, luxury, quality engineering and high price. This is an example of Mercedes' brand image. The correct answer would be option B.

The way a customer perceives a brand is known as its brand image. It is the culmination of a customer's perceptions, thoughts and impressions of the brand. Building a company's brand identity takes up the majority of their attention, resources and time. They choose the brand's visual identity, the customer experience it should provide, the positioning of the brand in consumers' minds as well as other connotations. When all of these factors are considered, a brand personality is created, which when the customer interacts with the business or learns about it, creates a brand image.

The following are the benefits of having a good brand image:

• More earnings as more people get familiar with the brand
• New items under the same brand are simple to introduce
• Increases the trust of current clients and aids in keeping them
• Improved customer-business relationships

To know about brand equity see:

https://brainly.com/question/14293418

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