Despite being on a smaller scale, the mom and pop business — and any other — can have brand equity
Brand equity will either add to or subtract from the brand or the products and services that are associated with the brand
Jul 14, 2020 · The Key to Brand Equity Since brand equity is rooted in customer experience and perception, building it is much like building human relationships
Brand Equity is kind of power that the brand has over its competitors or the generic brands and is developed over time
General Mills can value its Lucky Charms brand at a higher price point than the amount of money generated by boxes sold
If customers are willing to pay more for a product from a particular company than for a generic product, that company has brand equity
Because brand equity involves tangible and intangible factors, determining brand equity from an objective standpoint can prove to be difficult
It is logical and provides a step-by-step methodical approach to building your brand equity
Each of the brand equity models offers a deep insight into the brand value concept and the ways to evaluate it
Brand equity measurement is certainly complex and involves many variables, but it’s wholly possible