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Mid-Term Exam Name: Tutor: Course: Institution: Date: Definition of Brand Equity Brand equity is a term referring to the value quality realized by a company from product through a prominent name compared to generic equivalent products or services (Kotler & Keller, 2012).
Moreover, it is also defined as influence of knowledge concerning the response of the consumers to the brand marketing. Therefore, brand equity is a function regarding to the choice of consumers in a target market. In fact, the concept of the brand equity occurs though the choices made by customers concerning the products and services, and familiarization of customers with the brands, whereby they have a favorable perception towards distinction of the brand. Maintaining Brand Equity The effort of maintaining the brand equity involves focusing on brand awareness in order to increase the probability of customers familiarizing with the availability of products. In fact, this increases the degree of consumer association with the commodities offer by a certain company. Moreover, there is need to measure the ratio of the marketing niche, which relates to former knowledge concerning the brands. Therefore, creating brand awareness is a substantial way of maintaining the brand equity and brand recall. The other effort is to facilitate brand recognition of the products by consumers through their prior knowledge. Moreover, there the brand is associated with the deep customer mind concerning the brand, whereby establishing a positive perception about the brand. ...
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