Answer: brand value
Explanation: In simple words, brand value refers to the value that an organisation has earned on the basis of the perception that customers in the market have for them. Usually, brand value is created by the experiences that customers get while dealing with an organisation.
Brand value creates a strong customer base for the firm which results in less price elasticity for their product. Means, a company having brand value can charge extra price for a product than their competitors but customers would still stick to it.
