what is brand equity

Brand equity is a added value that embedded on a product or service which influence the way of customer with the respect of the product

Due to brand Eqiuty Company have advantages like

Companies get money due to brand equity by selling brand rites to another company

Companies get large margin profits

Brand loyalty increases. Maximum number of customers became loyal to brand

Customers will not change the product in case of increase in price. Obviously price increases demand decreases but in case of brand loyalty price increases demand became stable

Brand equity measures in different ways for example measure the how much customer willing to pay extra for your product by this method your company brand equity measures. Focus on how many customers are willing refers to others about your product and how many are not

Brand equity and brand equality are different from each other

Brand is intangible asset. Brand is just an image logo. But it influences the buying nature of the customer. Good quality products having good brand image. If brand image is good customer attitude also good. If brand image is not so good customer also not loyal to product

Customer always for brand that is what he heard about brand and what he hear about brand and what he see about brand..So companies should create good brand image in market to get profits.