1. Brand equity is a term that denotes the set of assets and liabilities that are linked to a brand which enable it to r

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1. Brand equity is a term that denotes the set of assets and
liabilities that are linked to a
brand which enable it to raise a firm’s market value. A firm’s
ability to create customer
loyalty through positive brand attributes is one of its most
valuable assets. All firms must build a brand from zero, which
begins with selecting the firm’s name.
A firm’s brand equity will vary from context to context and they
are usually grouped into the following five categories. By giving
example, explain the FIVE (5) categories of firm’s brand
equity?