Difference between revisions of "Brand Equity"
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| − | ''' | + | '''Brand Equity''' is the additional value a product receives from having a well known [[Brand|brand]], or high level of [[Brand Awareness|brand awareness]]. It is the difference in price that a consumer pays when they purchase a recognized brand’s product over a lesser known, generic version of the same product. Brand equity is a [[Competitive Advantage|competitive advantage]] that results in higher sales, higher revenues, and lower costs.<ref>Definition - What Does Brand Equity Mean? [https://trackmaven.com/marketing-dictionary/brand-equity-2/ TrackMaven]</ref> |
Revision as of 15:52, 11 June 2020
Brand Equity is the additional value a product receives from having a well known brand, or high level of brand awareness. It is the difference in price that a consumer pays when they purchase a recognized brand’s product over a lesser known, generic version of the same product. Brand equity is a competitive advantage that results in higher sales, higher revenues, and lower costs.[1]
- ↑ Definition - What Does Brand Equity Mean? TrackMaven