MANAGEMENT

Detailed explanation-1: -Brand equity is the marketing and financial value associated with a brand’s strength. It represents the value of a brand to an organization. The four major elements underlying brand equity include brand name awareness, brand loyalty, perceived brand quality, and brand associations.

Detailed explanation-2: -Brand equity is the value of a brand, determined by the consumer’s perception of its quality and desirability. It is based on factors such as the brand’s recognition, customer loyalty, and customer satisfaction.

Detailed explanation-3: -Definition: Brand equity With the term brand equity, marketers describe the “value” of a brand. Brand equity doesn’t refer to a brand’s financial value. It is determined, instead, by consumer perception and is driven by positive (or negative) customer experience.

Detailed explanation-4: -Brand equity has four dimensions-brand loyalty, brand awareness, brand associations, and perceived quality, each providing value to a firm in numerous ways. Once a brand identifies the value of brand equity, it can follow this roadmap to build and manage that potential value.

Detailed explanation-5: -Defined: Brand Equity Brand equity is the name given to the value of a company’s brand. It’s a measure of overall consumer perceptions of any brand. Those perceptions get shaped by the customer experience that a brand offers. If consumers get treated well, they’ll develop favorable perceptions of a company.