1. Which of the following is NOT a component of brand equity? a) Brand awareness b) Brand loyalty c) Brand cost d) Perceived quality Answer: c) Brand cost Rationale: Brand cost is not a typical component of brand equity. The key components are brand awareness, brand loyalty, perceived quality, and brand associations. 2. When a company extends its brand to new products or categories, it is known as: a) Brand differentiation b) Brand positioning c) Brand extension d) Brand identity Answer: c) Brand extension Rationale: Brand extension refers to the use of an existing brand name for new or modified products in a ne