what is a brand equity

WHAT IS….

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Defining Brand Equity

Brand equity is the added value endowed on products and services. It maybe reflected in the way consumers think, feel, and act with respect to the brand as well as in the prices, market share, and profitability the brand commands.

Customer-based brand equity

Customer-based approaches view it from the perspective of the consumer and recognize that the power of a brand lies in what customers have seen, read, heard, learned, thought, and felt about the brand over time

A brand promise is the marketer’s vision of what the brand must be and do for consumers.

The company has consistently maintained the brand’s key promise of health over years and yet introduced several variants

BRAND EQUITY MODELS

BRANDASSET VALUATOR

Advertising agency Young and Rubicam (Y&R) developed this model of brand equity. Its four key components are : • Energized Differentiation • Relevance • Esteem • Knowledge

BRANDZ

Marketing research consultants Millward Brown and WPP developed this model. According to this brand equity follows a series of steps: • Presence • Relevance • Performance • Advantage • Bonding

BRAND RESONANCE MODEL

Creating significant brand equity requires reaching the top of the brand pyramid • Brand salience • Brand performance • Brand imagery • Brand judgment's • Brand feelings • Brand resonance

1 Defining Brand Equity 2 Customer-based Brand Equity 3 Brand promise 4 Brand Equity Models

RECAP

Created by Bhaskar Bora, NIT Silchar, during an internship by Prof. Sameer

Mathur, IIM Lucknow.www.IIMInternship.com

DISCLAIMER