Building brand equity requires the right brand promise and long-term investment in delivering it via product performance, advertising and pricing strategy. It requires ongoing analysis of in-market brand equity and growth drivers, to ensure brand plans build sales and market share long-term.
Definition
Brand equity is sometimes a term of financial value but more commonly reflects a consumer view of the brand – whether a measure of strength of consumer attachment or a description of consumer associations. While different definitions of consumer brand equity abound, there is consensus that it’s about the added value a brand name gives to a...