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:

Brand name awareness.

Brand loyalty.

Perceived quality.

Brand associations.

Branding is mostly about building and maintaining brand equity.

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