Brand Equity
Brand equity can be viewed both as an intangible or tangible asset and or liability. The tangible being the monetary value of a brand and best viewed as the amount of additional income expected from a branded product over and above what might be expected from an identical, but unbranded product. To best illustrate this point would be a supermarket, they frequently sell unbranded versions of name brand products. The branded and unbranded products are produced by the same companies, but they carry a generic brand or store brand label like No Name or Home brand. Store brands sell for significantly less than their name brand counterparts, even when the contents are identical. This price difference is the monetary value of the brand name.However, according to (Aaker,1996) the most important assets of any business are intangible: its company name, brand, symbols, and slogans, and their underlying associations, perceived quality, name awareness, customer base, and proprietary resources such as patents, trademarks, and channel relationships. The intangible value associated with a product that can not be accounted for by price or features is illustrated by globally renowned company Nike. I has created many intangible benefits for th
Brand personality attributes may also reflect emotions or feelings evoked by the brand. In the same field as Coca Cola is Pepsi, a few years ago Pepsi undertook a multi-million dollar advertising campaign in which they tried to associated and build a brand image around the famous Michael Jackson. At the time it was a good idea a way of consumers of identifying with a celebrity the same way in which Nike was successful with Michael Jordan Pepsi hoped to that building an image to associated with Pepsi would increase sales however a month or so after the commercial was released Michael Jackson started receiving unfavorable press. Pepsi in turn pulled the commercial and would have suffered not only the monetary loss of now not paying for and not being able to use the commercial but also the loss of brand image and would have been opened to bad customer perception. But the generic industry is not a successor or alternative to the branded pharmaceutical industry, nor can it provide an inexhaustible abundance of cheap drugs. Generic pharmaceutical companies are now mining the pharmaceutical technology of the late Sixties and early Seventies. A branded drug ``goes generic'' only after its patent protection expires, that is, 17 years after its patent was originally granted. Many generics are drugs that were conceived or discovered decades ago. Only a few have since enjoyed truly significant commercial success. Rainer, D (Oct 1995)"Some handy hints on patents and trade marks," Asia Business Review Allows you to charge a price premium compared to competitors with less brand equity. Brand awareness with strong associations forms a specific brand image. Aaker Although in the rush to compromise brand for short term performance a badly mismanaged brand can actually have negative Brand Equity. Ideally brand equity is a set of assets (and liabilities) linked to a brand's name and symbol that adds to (or subtracts from) the value provided by a product or service to a firm and/or that firm's customers.(Aaker,1996) These assets, which comprise brand equity, are a primary source of competitive advantage and future earnings. (Aaker, 1996)
Some common words found in the essay are:
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Approximate Word count = 2311
Approximate Pages = 9 (250 words per page double spaced)
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