Brand equity is the commercial value derived from consumer perception of a brand. Companies with high brand equity can charge premium prices, gain customer loyalty, and launch new products more successfully.
Defining Brand Equity Brand equity refers to the value a brand adds to a product or company beyond the functional benefits it delivers. It represents the premium a consumer is willing to pay for a named product over a generic equivalent, and the competitive advantage that a well-regarded brand name provides. Brand equity is one of the most strategically important intangible assets a business possesses. Companies like Coca-Cola, Google, and Apple have brand values worth tens of billions of dollar