What is Brand Equity?

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Brand Equity

Brand equity can be described as the value of a well-established brand name. A product of a popular brand can generate more revenue as compared to an unknown brand. Consumers have a perspective that a product from well know brand will be better in terms of quality than others. This gives an advantage to a branded product over an unknown product.

Elements of Brand Equity
Brand equity valuation is difficult and doesn't have any basic criteria. Some of the elements associated to it include −

#Consumer loyalty

#Awareness of brand

#Quality of product

#Association with brand

#Proprietary assets owned by the brand

Elements of brand equity add a value to the brand; a successful brand has all the elements of brand equity.


Source: https://www.tutorialspoint.com/marketing_management/marketing_management_brand_equity.htm