Brand Equity: An Overview

Abstract

This note was written as an updated version of “Perspectives on Brand Equity" (UVA-M-0668), and may be used in its place.This note provides a resource to aid in understanding brand equity: its creation, maintenance, measurement, and value. Suitable for use in introductory courses in marketing at the undergraduate and MBA levels, this note presents an overview of brand perspectives including those of Millward Brown, Young & Rubicam, David Aaker, William Moran, and Interbrand.

Excerpt

UVA-M-0879

Rev. Sept. 28, 2016

Brand Equity: An Overview

Introduction

This note provides a resource to aid in understanding brand equity: its creation, maintenance, measurement, and value. There are many different perspectives on brands, and we will not attempt to fully integrate these views. We do, however, hope to provide a broad summary of current thoughts on the subject. According to David Aaker, marketing professor at the Haas School of Business and chairman of Prophet Consulting:

Far more than a name and a logo, it is an organization's promise to a customer to deliver what the brand stands for not only in terms of functional benefits but also emotional, self-expressive, and social benefits. But a brand is more than delivering on a promise. It is also a journey, an evolving relationship based on perceptions and experiences that a customer has every time he or she connects to the brand.

. . .

Keywords: brand equity, brand, brand strategy, marketing