Question

In the context of Branding Strategy and building Strong Brands:  

Define brand equity and discuss
the major brand strategy decisions. Give examples for each element and include diagram(s)

Answer 1

BRANDING

Branding is a process by which a company uses a specific name or a particular design to advertise and promote sale of a product or service.

* A brand gives a unique identity to the product amongst its competitors .

* It helps to position the product in the minds of the customers and thereby develops strong positive affiliation to the product .

* Brand equity is a consequent outcome of systematic branding strategy .

BRAND EQUITY

Brand equity refers to the commercial value for a product derived out of positive attitude of customres towards a product .