Question: Consider the Apple iPhone on a display table with competing branded phones. The Apple logo is highly recognisable above the competing phones' logos. The apple

Consider the Apple iPhone on a display table with competing branded phones. The Apple logo is highly recognisable above the competing phones' logos. The apple brand adds value to the branded product, which results in high brand equity. Identify and explain the FOUR (4) characteristics which are important in determining brand equity.

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2. Information that comes most readily to mind (availability).

3. An initial value (anchoring).

4. Similarity (representativeness).