Synthesize an answer to the following questions using your favorite brands as examples:

What is branding?

Does a brand truly have equity?

Explain why or why not.

Can a private-label product ever develop brand equity and brand loyalty? Explain why or why not.

Explain the benefits of branding from both a consumer’s point of view and a manufacturer’s/advertiser’s perspective.

Explain whether or not branding plays an important role in product identification, repeat sales, and new-product sales.