Which of the following is a benefit of brand equity to consumers?

Reduced search cost is a significant benefit of brand equity to consumers. When consumers are familiar with a brand that has established strong equity, they experience a sense of trust and reliability associated with that brand. This familiarity simplifies the decision-making process, as consumers can often make quicker purchasing decisions without needing to extensively research or compare options. The established reputation of a brand can lead to shortcuts in the evaluation process, ultimately saving consumers time and effort during their shopping experience.

In contrast, increased marketing costs would not be a benefit to consumers, as those costs are typically associated with brand promotions that could increase prices. Higher purchase prices are also contrary to the consumer benefit, as consumers generally prefer to pay less for products they trust. Lastly, lower perceived quality contradicts the purpose of strong brand equity, which typically aligns with the perception of higher quality. Therefore, the option of reduced search cost aligns directly with how brand equity can enhance the consumer experience.