Unformatted text preview: of brand equity. Favorable brand attitudes will only guide perceptions and behavior if those attitudes can be instantly evoked. A product is “something that offers a functional benefit”. A brand, on the other hand, is “a name, symbol, design, or mark that enhances the value of a product beyond its functional value”. The premium prices enjoyed by many brands have often been identified with brand equity (Aaker, 1991; Farquhar, 1989). Holden (1992) maintains that brand equity arises from greater brand choice probability by consumers and is reflected in willingness to pay premium prices....
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- Spring '12
- Accounting, Brand, Brand Management and Brand Loyalty