Question

Explain a brand equity and source of brand equity ?

Answer 1

Brand equity is the value people perceive that a brand carries which might be due to numerous characteristics of the brand like quality, pricing etc. The important point to note here is that it is the perception of the brand which matters which in turn is shaped by a consumer's experience with it.

There are broadly two methods to establish brand equity:-

Qualitative

• Awareness
• Brand Response
• Brand Relationship
• Brand Image

Quantitative

• Projective Techniques
• Values Experiential Methods
• Free Association  
• Brand Personality