Brand Equity Notes: Definitions & Explanations PDF Download
Study Brand Equity lecture notes PDF with marketing definitions and explanation to study “What is Brand Equity?”. Study brand equity explanation with marketing terms to review marketing course for online MBA programs.
Brand Equity Definitions:
Differential effect that knowing the brand name has on customer response to the product or its marketing.
Principles of Marketing by Philip T. Kotler, Gary Armstrong
Added value endowed to products and services.
Principles of Marketing by Philip T. Kotler, Gary Armstrong
Brand Equity Notes:
It is a marketing terminology that defines value of the brand. The brand reputation can be assessed by consumer perceptions and their experiences with the brand. Brand equity can be positive or negative. If brand gets more profits, and recognition, then, it shows positive brand equity. Consequently, if brand gets low response from consumers, due to lack of brand trust, and reliability then it has negative brand equity. Brand equity can be achieved by developing customer's positive image with brand. This process has certain stages which includes; awareness, recognition, trail, and loyalty.
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