Brand Management: Brand Equity
- Topics:
- Brand Management
- Source:
- Iowa State University
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Overview: A brand is the symbol, logo, design, or the name that is the unique identity of a particular product or service and differentiates it from the competitor’s offerings. Intense promotional and marketing effort over time is required to build and establish a brand. Brand equity is the advantage that the brand enjoys in the market. It has four components viz. brand awareness, brand identity, perceived quality, and brand loyalty. Brand awareness is the degree of familiarity that the consumers have with the brand. Brand identity is the associations that the consumers have with the brand. Brand loyalty is the degree of repeat value that the brand has. Perceived quality is the degree of quality as seen by the consumers in the brand. Strong brands require strong positioning platform. The paper examines the management of brands.
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Format: HTML | Size: 99KB | Date: Jan 2003 | Pages: 17
