Brand Equity

Brand equity - added value to products & services

Important intangible asset - psychological & financial value

Customer-based brand equity
Effect brand knowledge has on consumer response to marketing of that brand

3 keys to customer-based brand equity
Differences in consumer responses
Consumer’s knowledge about brand
Perceptions, preferences, & behavior related to marketing of brand
Strong brand - right experiences & marketing - desired brand knowledge

4 key components of brand equity:
1. Differentiation
2. Relevance
3. Esteem
4. Knowledge

Aaeker Model
1. Brand loyalty
2. Brand awareness
3. Perceived quality
4. Brand Associations

Other proprietary assets

Brand identity - brand associations - what brand is & promises to customers

12 dimensions, 4 perspectives:
brand-as-product
brand-as-organization
brand-as-person
brand-as-symbol