3.6 Brand equity
Aaker (1991, p. 15) defines brand equity as:
the set of brand assets and liabilities linked to a brand, its name and symbol, that add to or subtract from the value provided by a product or a service to a firm and/or to that firm’s customers.
A core aspect of brand equity relates to the name/symbol. In fact one of the first identification aspects of a brand is its name or symbol. The dimensions of equity revolve around the brand name and symbol, as shown in Figure 9.
Stop and reflect
How would you define and assess your organisation’s brand equity from the perspective of:
- brand awareness
- brand loyalty
- brand associations
- perceived quality
- proprietary brand assets?
When you are ready, please move on to the final section - International marketing in turbulent times