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Ever wonder why some brand names become synonymous with the products they represent? That's the power of brand equity. At its core, brand equity is the perception, good or bad, that customers hold about a particular brand, influencing their purchasing behaviors. It's not just a buzzword; brand equity can be a real game-changer for businesses. Ever thought about why people pay more for a brand when they can get the same product for less? That's brand equity in action.