Creators of Equity
John A. Hallward
It is generally accepted that a brand name
(+ logo, artwork, package, and so on) offers recognition to an
otherwise nameless product or service. In turn, this recognition
triggers an 'association of characteristics' which imparts a
positive or negative disposition for the product/service. For the
company owning this brand, these (hopefully positive)
associations towards the brand represents 'financial goodwill'.
However, to the consumer, financial goodwill means very little.
For consumers, the brand represents a 'promise', reasons-to-buy,
an informed decision, and reduced risk.
We typically refer to these attitudes as
brand equity, but it doesn't particularly matter what the
definition is. The important practical issue for a Brand Manager
is how does one measure or quantify this consumer empathy so it
can be managed. And how does one create, enhance, and build more
of this empathy? Before addressing the question, it is important
to confirm that 'brand equity' does indeed provide better