Brand Equity:
Many of us know the term brand equity, but how many of us know the inner meaning of Brand Equity? On this post i am try to discuss what Brand is brand equity.
Brand Awareness
+ Image
+ Perceived Quality
+ Evocations
+ Familiarity, Liking
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= Brand Assets ------------------> Brand added value Perceived by Consumers
(-) Costs of Branding
(-) Cost of Invested Capital
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Brand Financial Value (Brand Equity)
To be more lucid, we can say,
Brand Equity is the combination of Logo, Name, Loyalty, Functional Utility, Brand Reputation, Brand Self etc.
Now let me discuss what is,
Brand Awareness: It's the capacity of the brand to symbolize to the category, to be a prototype of it.
Image: Brand Image is the combination of Name, Logo, slogan etc and the way a person treated a brand.
Perceived Quality: It's a customer perception about a brand.
Evocation: Creating the brand through the power of memory of the customers about a particular brand.
Familiarity, Liking: It shows how easy to recognize a brand and the consumer liking about a particular brand.
Cost of Branding: The investment to establish a brand (cost of Logo, name, slogan)
Cost of Invested Capital: It shows the total accumulated Capital of the company invested.
Hope you are now very much clear what brand equity is. Feel free to ask me if you have any query regarding brand, or anything else, [post as comment]
