Brand Equity is a qualitative measure of the brand’s positive recognition or goodwill in the minds of the consumers considering the brand as an independent entity. Brand Equity is the tangible and intangible worth of a brand. The degree of premium that a brand can charge on its offering is a direct measure of the equity it possesses with its customers. Brand Equity is kind of power that the brand has over its competitors or the generic brands and is developed over time.
Brand Equity is quite important in the fact that it helps one brand gain importance and additional revenue as when compared with the competitor. Brand Equity is a complex parameter which takes into account a lot of parameters like Brand Image, Brand Identity, Brand Awareness etc. It is mainly subjective and qualitative but can be represented quantitatively.
Brand Equity is driven by marketing efforts over the years and consistency which results in customer perception which may be positive or negative. Positive perception would result in increase in brand equity.
You can ask more from Customer and Market Research Department of Iran Standard & Quality Inspection.
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