What do you understand by Brand Equity? How is Brand Equity different from Brand name?
The value of Brand Equity is based on the extent to which it has high brand loyalty, name awareness, perceived quality. Strong brand associations and other assets such as patent, trademark and channel relationships. As the name suggests it is more than just a brand name. It is the total of all endeavours that go in creating the image of the brand among consumers. There are various methods of evaluating brand equity. Brand name is only the vocalized part of the brand.