Brand Equity
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Competitive advantages of high brand equity:
1. Brand awareness and loyalty 2. Brand name carries high credibility 3. Forms basis for building strong and profitable customer relationship
Fundamental asset underlying brand equity:
Customer equity: The valuable of the customer relationship that the brand creates.
Brands represent:
Customers perceptions and feelings about a product.
Brand equity:
The differential effect that knowing the brand name has on customer response to the product or service.
Measure of brand equity:
The extent to which customers are willing to pay more for the brand. Brands with strong brand equity is a valuable asset.
Brand valuation:
The process of estimating the total financial value of a brand.
