. Brand equity is one of the most important assets of a business. It includes brand loyalty, brand awareness, perceived quality, and brand image. One study examined the relationship between brand equity and sales using simple linear regression analysis.22 The correlation between brand equity and sales was reported to be 0.757 with a significance level of 0.001.
(a) Explain in simple language the meaning of these results.
(b) The study examined quick-service restaurants in Korea and was based on 394 usable surveys from a total of 950 that were
distributed to shoppers at a mall. Write a short narrative commenting on the design of the study and how well you think the
results would apply to other settings.