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Running Head: DISCUSSION BOARD – CREATING BRAND EQUITY 1 Discussion Board I – Creating Brand Equity Liberty University BUSI 520 Kalie Waldeck
DISCUSSION BOARD – CREATING BRAND EQUITY 2 Brand Equity Concept Explained According to the course textbook, a company's most valuable intangible asset is its brand and its ability to identify the best approach to marketing its brand (Kotler & Keller, 2016). Brand equity is defined as the value assigned to products or services based on different consumer perceptions and responses of a brand's name (Kotler & Keller, 2016). A company may experience both positive and negative brand equity based on consumer reactions to brand identification. If a consumer exhibits favorable feelings towards a brand, that contributes towards its positive equity; on the other side, if a consumer experiences less-favorable attitudes towards a brand, it creates negative brand equity. Brand equity only exists based on different consumer responses; without any differences, the competition becomes solely price-based (Kotler & Keller, 2016). Knowledge of a brand, including thoughts, feelings, images, and beliefs that consumers

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