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In marketing domain ' brand equity" is very often debated and contested how do we substantiate it as a marketer.
Brand Equity is the value and strength of the brand that decides its worth.
It can also be defined as the differential impact of brand knowledge on consumers response to the Brand Marketing.
Brand Equity exists as a function of consumer choice in the market place.
The concept of Brand Equity comes into existence when consumer makes a choice of a product or a service. It occurs when the consumer is familiar with the brand and holds some favorable positive strong and distinctive brand associations in the memory.
Dear Nasir,
Please accept my compliments for writing a very impressive answer. The relevance of Brand Equity becomes extremely critical at the time of acquisition of the brand when a consultant is asked to value the brand.
Typically Brand equity is a sum of Market share, Growth in Market share, Brand Revenue, Brand premium after offsetting the inflation, Brand position in Price index, how compromises or sacrifices the consumer is capable of while looking for buying the brand or services, and it mind space in the mind of consumer. regards, Preetam
