Measurement of brand equity

Abstract

This contemporary concerns study deals with measuring the brand equity of a particular brand. A brand is a distinctive feature associated with a company's product that distinguishes it from the products of other companies. Brand equity is the intangible value enjoyed by a company over its rivals due to strong brand building. Quantitatively, brand equity is the incremental monetary value per year created by the brand as compared to another product with no significant brand building efforts. Hence it is one of the most influential factors for a consumer preferring a certain product. As a result, there is a need to quantify this influence and measure the value of brand equity of a particular brand. Measuring brand equity will help the managers formulate effective strategies and will also contribute towards evaluating future profitability. It will immensely aid in various decision making processes of a product.