Summary |
Brand management and equity is a phrase used in the marketing industry to try to describe the value of having a well-known brand name, based on the idea that the owner of a well-known brand name can generate more money from products with that brand name than from products with a less well known name, as consumers believe that a product with well-known name is better than products with less well known names. Another word for “brand equity” is “brand value”. Some marketing researchers have concluded that brands are one of the most valuable assets a company has, [5] as brand equity is one of the factors which can increase the financial value of a brand to the brand owner, although not the only one.
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