Brand Equity

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ashayscmhrd
Posts: 5
Joined: Sun Jan 11, 2015 3:02 pm

Re: Brand Equity

#1 Postby ashayscmhrd » Sun Jan 11, 2015 3:31 pm

“Brand Equity is a set of brand assets and liabilities linked to a brand, its name and symbol that add to or subtract from the value of the product or service provided to a firm and/or to that of firm’s customers” says David Aaker. It has five aspects Brand Loyalty, Name Awareness, Perceived Quality, Brand Associations and other proprietary brand assets. Brand Name Awareness could be subdivided into unaware, brand recognition, brand recall and top of mind. Brand Loyalty could be of different types depending on customers like switchers, satisfied/habitual buyer, satisfied buyer, one who likes the brand and committed buyer. Perceived Quality is the customer’s perception of overall quality and superiority. Brand Associations leads to create basis for extensions, positive attitudes/feelings, differentiation, helps process or retrieve information and differentiation. Brand Image is a set of brand associations and brand beliefs built up by the consumer over time.

binayscmhrd
Posts: 5
Joined: Wed Jan 07, 2015 11:46 pm

Re: Brand Equity

#2 Postby binayscmhrd » Sun Jan 11, 2015 3:29 pm

Brand equity is a set of brand assets and liabilities linked to a brand, its name and symbol that add to the value of the product or service provided to a firm and/or to that firm's customers. When developing a new product, branding is an important decision. The brand can add significant value when it is well recognized and has positive associations in the mind of the consumer. Brand equity is an intangible asset that depends on associations made by the consumer. Strong brand equity provides the following benefits:
• Facilitates a more predictable income stream.
• Increases cash flow by increasing market share, reducing promotional costs, and allowing premium pricing.
• Brand equity is an asset that can be sold or leased.
Building brand equity requires a significant effort, and some companies use alternative means of achieving the benefits of a strong brand. For example, brand equity can be borrowed by extending the brand name to a line of products in the same product category or even to other categories.

ANKITSHAH
Posts: 52
Joined: Fri Nov 14, 2014 5:59 pm

Brand Equity

#3 Postby ANKITSHAH » Tue Dec 09, 2014 3:11 am

Brand Equity in simple terms can be said the power of any brand to attract its customers. The brand defines the status of the products and hence of the customer and this drives the customers to be loyal towards that brand. Building of brands takes time, but then when the brand is established then that sub unit becomes a cash cow for the company. For instance apple i-phones have a brand equity which makes the people to buy the product. Same goes with premium care like Mercedes or Rolls Royce .


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