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Brand equity. Brand equity, in marketing, is the worth of a brand in and of itself – i.e., the social value of a well-known brand name. The owner of a well-known brand name can generate more revenue simply from brand recognition, as consumers perceive the products of well-known brands as better than those of lesser-known brands. [ 1][ 2][ 3][ 4]
David Aaker. David Allen Aaker (born February 11, 1938) is an American organizational theorist, consultant and Professor Emeritus at the University of California, Berkeley 's Haas School of Business, a specialist in marketing with a focus on brand strategy. [ 2] He serves as Vice Chairman of the San Francisco-based growth consulting company ...
Brand awareness is the extent to which customers are able to recall or recognize a brand under different conditions. [ 1] Brand awareness is one of two dimensions from brand knowledge, an associative network memory model. [ 2] It is a key consideration in consumer behavior, advertising management, and brand management.
Brand equity Within the literature, it is possible to identify two distinct definitions of brand equity. Firstly an accounting definition suggests that brand equity is a measure of the financial value of a brand and attempts to measure the net additional inflows as a result of the brand or the value of the intangible asset of the brand. [ 49 ]
Brand extension or brand stretching is a marketing strategy in which a firm marketing a product with a well-developed image uses the same brand name in a different product category. The new product is called a spin-off . Organizations use this strategy to increase and leverage brand equity (definition: the net worth and long-term sustainability ...
In marketing and consumer behaviour, brand loyalty describes a consumer 's persistent positive feelings towards a familiar brand and their dedication to purchasing the brand's products and/or services repeatedly regardless of deficiencies, a competitor 's actions, or changes in the market environment. It can also be demonstrated with other ...
Equity theory focuses on determining whether the distribution of resources is fair. Equity is measured by comparing the ratio of contributions (or costs) and benefits (or rewards) for each person. [ 1] Considered one of the justice theories, equity theory was first developed in the 1960s by J. Stacey Adams, a workplace and behavioral ...
Brand extension is the system of employing a current brand name to enter a different product class. Having a strong brand equity allows for brand extension; for example, many fashion and designer companies extended brands into fragrances, shoes and accessories, home textile, home decor, luggage, (sun-) glasses, furniture, hotels, etc ...