Thursday, March 16, 2006

Definition of "Brand Equity"

In Building Strong Brands, David Aaker defined "brand equity" as follows: 
Brand equity is a set of assets (and liabilities) linked to a brand's name and symbol that adds to (or subtracts from) the value provided by a product or service to a firm and/or that firm's customers. The major asset categories are:
  1. Brand name awareness.
  2. Brand loyalty.
  3. Perceived quality.
  4. Brand associations.
Branding is mostly about building and maintaining brand equity.

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