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Brand Equity
A brand is a name or symbol used to identify the source of a product. When developing a new product, branding is an important decision. The brand can add significant value when it is well recognized and has positive associations in the mind of the consumer. This concept is referred to as brand equity.
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7/16/2011 11:36 AM
Brand Equity
http://www.netmba.com/marketing/brand/equity/
2 of 3
7/16/2011 11:36 AM
Brand Equity
http://www.netmba.com/marketing/brand/equity/
example, if the brand is positioned as a premium product, the product quality should be consistent with what consumers expect of the brand, low sale prices should not be used compete, the distribution channels should be consistent with what is expected of a premium brand, and the promotional campaign should build consistent associations. Finally, potentially dilutive extensions that are inconsistent with the consumer's perception of the brand should be avoided. Extensions also should be avoided if the core brand is not yet sufficiently strong.
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7/16/2011 11:36 AM