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Brand equity is a phrase used in the marketing industry which describes the value of having a well-known brand name, based on the idea that the owner of a well-known brand name can generate more money from products with that brand name than from products with a less well known name, as consumers believe that a product with a well-known name is ...
Quick Answer. Many factors influence the consumer decision-making process, including social status, desire, cost and mood. Some of these factors can be altered or manipulated by product sellers and marketers, while others, such as mood, cannot. Continue Reading.