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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]
Brand management is the process of identifying the core value of a particular brand and reflecting the core value among the targeted customers. In modern terms, a brand could be corporate, product, service, or person. Brand management builds brand credibility and credible brands only, can build brand loyalty, bounce back from circumstantial ...
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 ...
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. The consumer's ability to ...
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 ...
The following article lists the most valuable corporate brands in the world according to different estimates by Kantar Group, Interbrand, Brand Finance and Forbes.Factors that influence brand value are sales, market share, market capitalization, awareness of a brand, products, popularity, image, etc. Readers should note that lists like this, while informative, are somewhat subjective, as no ...
Rebranding is a marketing strategy in which a new name, term, symbol, design, concept or combination thereof is created for an established brand with the intention of developing a new, differentiated identity in the minds of consumers, investors, competitors, and other stakeholders. [ 1] Often, this involves radical changes to a brand's logo ...
Brand relationship. A consumer-brand relationship, also known as brand relationship, is the relationship that consumers think, feel, and have with a product or company brand (Fournier, 1998; Veloutsou, 2007). For more than half a century, scholarship has been generated to help managers and stakeholders understand how to drive favorable brand ...