How would you explain brand equity to someone with no marketing experience?

25 years in marketing and communication has taught me that..... a brand is a name of a person, animal, place or thing. Besides being a product,it's an intangible entity that evokes emotions and resonates with individuals on a deeper level. Brands evoke emotions; they make people feel a certain way. Brands often tap into people's desires and aspirations. They symbolize what individuals hope to achieve or become. Brands that have a clear purpose beyond profit-making often resonate strongly with consumers. A Brand connects with individuals on an emotional level, aligns with their values and aspirations.

Für mich die treffendste Aussage, die Marke auf den Punkt bringt: "Marke ist das, was andere über dich sagen, wenn du nicht im Raum bist"(Jeff Bezos)

A brand is a product to which buyers have established an emotional connection. The brand is surrounded by a kind of aura of familiarity and the promise of added value: at least the exact and special quality desired by the buyer. Usually the better quality (compared to others). The perceived added value is very individual. But it can be shaped and created and enhanced and enriched. In this respect, the brand is no longer a product, but rather an idea, its everything that people associate with it.

Eine Marke ist betriebswirtschaftlich gesehen: Nur dann eine Marke, wenn sie in der Lage ist bei gleicher Qualit?t einen h?heren Preis abzusch?pfen oder bei gleichem Preis eine h?here Menge abzusetzen. Eine Marke ist emotional gesehen: Das, was die Menschen über dich und dein Business sagen, wenn du den Raum verl?sst. (Jeff Bezos)

Brand equity is like the reputation or value attached to a brand, similar to how a person's reputation impacts how they're perceived and trusted. Imagine you're thinking about buying a product. Brand equity is what makes you willing to pay more for a certain brand even if similar products are available for less money. Let's break it down: Recognition and Familiarity: Think about popular brands you know, like Coca-Cola or Nike. You might know their logos, slogans, or even the emotions associated with them. That familiarity and recognition you have is part of their brand equity. Perceived Quality and Trust: When you see a well-known brand, you might trust its quality more than a lesser-known one.

Brand equity is the differential (+)a consumer will pay for a given brand against other brands in a category. It is the magnitude of value of how much better one brand is to another, all added up, equity is the relative company value beyond its other factors like costs, resources, raw materials, Quality of raw material and production. Marketing and distribution. Essentially, how one brand leverages scarce resources better than another one. Equity should translate into margin and share price

Brand equity is the monetary value of a brand. It reflects the premium that is placed on a company's valuation because of its ownership of the brand. It encompasses the NPV of the total financial results that a brand will generate over its lifetime. This is the financial method of gauging brand equity, however these is cost approach which involves calculating historical costs of creating the brand or perhaps brand replacement cost. Another approach is market approach whereby measuring the difference between sales revenue from a branded vs unbranded offerings. (Kotler et al, 2022)

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Brand equity is like a brand's street cred among customers—it's all about how much they recognize it, trust it, and keep coming back for more. It's the vibe and value a brand carries in people's minds, from how well-known it is to how much they love it. Brands build this equity by staying consistent, offering great things, having a solid marketing strategy, and making sure customers feel heard. The higher the brand equity, the easier it is for companies to charge a bit extra and stay ahead of the pack.

An example in brand equity is Apple vs HP. Apple's design excellence fosters high brand equity, shaping expectations beyond products. If Apple launched a hotel, people might expect innovation and sophistication, reflecting their product perceptions. Conversely, HP, known for computers, lacks such brand equity in design, so its hypothetical hotel might not stir the same excitement. This illustrates how brand equity influences consumer expectations across different categories, demonstrating a brand's image in one area can shape prospects in another.

Brand equity is like a friendship: the stronger and more positive the experiences, the deeper the trust and connection. Just as a good friend stands out for their reliability and unique qualities, a brand with high equity is valued and preferred for its consistent excellence and distinct character ??

I view a brand like a person that can be liked, disliked. A brand can give you a certain feeling or emotion, and a brand has the ability to build up a relationship with an individual or group that is defined by values, emotions and recognition. The ability to build up these characteristics defines brand equity.

Ein weiterer wichtiger Aspekt des Markenwerts ist die F?higkeit einer starken Marke, den Verhandlungsspielraum mit div. Stakeholdern (Lieferanten, Partnern..) zu erh?hen. Unternehmen mit hohem Markenwert haben oft mehr Einfluss in Verhandlungen, da ihre Gesch?ftspartner von der Assoziation mit einer etablierten und angesehenen Marke profitieren m?chten. Dies kann zu günstigeren Konditionen, exklusiven Vereinbarungen oder bevorzugtem Zugang zu hochwertigen Ressourcen und Dienstleistungen führen. Was Krisenzeiten betrifft - auch hier kann ein starker Markenwert gut sein, da Kunden und Partner eher bereit sind, einem Unternehmen mit einer gut etablierten Marke und einem guten Ruf zu vertrauen und ihm treu zu bleiben.

Es tal cual como se indica, el valor de marca es vital desde la perspectiva estratégica, ayuda a lograr una posición fuerte y dominante en el mercado, además de generar "lealtad" que se traducen en mayores proyecciones futuras de ingresos, pero también contribuyen a reducir en forma significativa los costos y gastos de la empresa, ya que al tener una marca fuerte se requiere de menores gastos en publicidad, distribución y otros asociados generando un impacto positivo en la rentabilidad no solo por aumento en los ingresos, sino también en mayores eficiencias (menores costos)

I'd like to add another perspective: the brand equity of a professional. Just like any other brand, it can strengthen the company it works for, acting like a genuine and authentic brand ambassador while at the same time building a reputation and a relationship with others. At the end of the day, we're at the level of human interaction (with a little help from AI). Happy professionals keep their former ties with their previous company and are excellent at creating synergy effects that span across continents and industries while increasing brand awareness. And sometimes a fusion, a collaboration or a completely new concept.

One option could be The Brand Strength Index, a comprehensive approach to assess a brand's position and impact. By combining key factors such as recognition, customer loyalty, perceived quality, and social responsibility, it provides a holistic view of brand health. This model recognizes the importance of emotional and social elements, offering a valuable tool to understand not only financial standing but also emotional connection and relevance in an ever-changing market. In a world where brands vie for consumer attention and preference, this holistic approach is crucial to evaluate and fortify a brand's position in the market.

There are various methods and models for measuring brand equity. The Brand Asset Valuator (BAV) measures brand strength based on four main criteria: Differentiation, Relevance, Esteem and Knowledge. Keller's Customer-Based Brand Equity (CBBE) model: (by Kevin Lane Keller) considers brand equity in four stages: Brand Identity, Brand Meaning, Brand Response and Brand Resonance.

Wichtig ist auch, dass das Selbstbild und Fremdbild der Marke übereinstimmen. Sprich: Wie sehe ich mich selbst vs. wie nehmen mich die Kunden wahr? Je stimmiger das Bild ist, desto konsistenter ist das Markenbild. Diese Konsistenz schl?gt sich natürlich auch im Markenwert nieder.

Lo que se se?ala está correcto desde la perspectiva del marketing y lo comercial, ahora, ?Cuál sería el valor de la marca desde la perspectiva financiera? dicho en otras palabras, ?En cuanto puedo vender mi "marca" a un inversionista? corresponde a usar el clásico método de valorización de flujos de caja. En este caso, se debe hacer las proyecciones de cuantos ingresos adicionales genera la marca por sobre un producto genérico (cuantos ingresos adicionales me genera colocar mi marca en el producto a comparación de comercializarlo sin dicha marca) y valorizar esos flujos incrementales, ese sería el valor de la marca desde una perspectiva financiera.

Building brand equity sustainably and effectively requires a long-term strategy, consistency and consideration of various factors. Here are some best practices: - Develop a clear brand identity: Lay the foundation for a cohesive brand identity: clearly define your brand's values, mission and personality. - Consistent brand communication: Logo, visuals, color, messaging, tone. Consistency across all platforms! Communicate your USP! - Customer focus: don't just focus on the needs and wishes of your target group - offer added value, exceed customer expectations. SURPRISE & DELIGHT - Emotional connection: build and foster real customer relationships. emotional connections with your customers through genuine appreciation for each customer.

A constru??o do Brand Equity se dá com a busca do intangível no seu DNA. N?o é só o visível da marca, é a composi??o com a sua alma. é um processo em que a marca passa a ter um DNA e tudo que ela fizer, veremos sem perceber que é da marca. Este processo é indicado para empresas que possuem um grupo de marcas sob o seu controle, pois se cada marca falar com um cliente distinto, o grupo passará a ter um maior market share. Aqui no Brasil, industrias que precisam produzir muito, est?o optando por produzir marcas distintas o invés de muito do mesmo, mas com direcionamento de Lifestyle. A constru??o n?o é simples, por que exigirá um brand manager focado no DNA da marca, mas é possivel pois tenho um histórico de sucesso neste processo.

Brand management is a strategic process that aims to increase, protect and maintain the value of a brand. Thus Brand equity is actively managed and should be experienced in all aspects of brand management. The focus on brand equity should be tangible in all aspects of brand management. Consistent and thoughtful implementation of brand values across all touchpoints, from marketing communications to customer experience, is crucial. Through holistic brand management, companies can ensure that their brand can be experienced not only in theory but also in practice, building and maintaining the desired brand equity.

O processo de gerenciamento do Brand Equity é de acordo com a defini??o do DNA da marca. Desde a cria??o a atra??o do cliente, deverá seguir o seu DNA. Aumentar o market share passa a ser a meta do gestor de portfolio de marcas. Um gestor bem orientado e capacitado, pode fazer isso para a marca.

Brand equity is the added value a brand holds beyond its products. It's trust, loyalty, and perceived value that influence customers' choices. For instance, selling similar coffee at the same price. Yet, one shop consistently has a longer line. People believe the coffee from that shop is worth the wait, even though the product might be similar elsewhere. It's the intangible value, trust, loyalty, and perception the brand holds in customers’ minds. Brand equity is about the added value a brand possesses beyond its tangible assets. Managing it involves consistently meeting expectations, delivering quality, and nurturing a positive brand perception over time.

Brand equity is like a company's reputation - it's what sets a recognized brand apart. ?? ?? Brand equity is the added value a well-known brand has over a generic one. It influences pricing, loyalty, and recommendation likelihood. ?? Brand equity boosts a company's performance and profitability. It attracts loyal customers, defends market share, and expands product portfolios. ?? Brand equity is gauged through surveys, brand tracking, experiments, and data analysis. ??? Brand equity is built through consistent, compelling brand experiences that align with the brand promise across all touchpoints. ?? Brand equity is managed by monitoring brand perception, conducting regular brand audits, and implementing strategic brand strategies.

Trust and comms are the main drivers to look at if we want to keep a healthy and sustainable over time brand equity. Our values and messages must be consistent and coherent when directing our comms to the consumer.

Mantener un continuo control sobre la posición y valor de la marca, revisar continuamente si la percepción de los consumidores al menos se mantiene (lo ideal es que se mejore) y estar siempre dispuestos a asignar un presupuesto para fortalecimiento de la marca.