Brand Equity is defined as?

Brand equity refers to the value that a brand adds to a product or service beyond the functional benefits it provides. This value is derived from consumers' perceptions of the brand, which can be influenced by various factors such as brand awareness, brand loyalty, perceived quality, and brand associations. When a brand has strong equity, it can command higher prices, achieve greater customer loyalty, and even create a competitive advantage in the marketplace.

Choosing the option that defines brand equity as a measure of a brand's value encapsulates its fundamental essence. It highlights how strong brand equity reflects the financial and market position of the brand, which can be quantified in terms of customer preferences and behaviors.

The other options do not accurately capture the broader concept of brand equity. While social media influence, customer satisfaction, and market share can contribute to or be impacted by brand equity, they are not direct measures of the overall value that a brand provides to consumers and the business.