A company’s brand equity, or how much the brand is worth, is reflected in the price customers are willing to pay for its product.

Brand equity encompasses all positive and negative attributes that determine a brand’s value to customers. The value of a brand to customers is determined by four dimensions: brand awareness, brand loyalty, brand association, and perceived quality.

• Brand awareness refers to how familiar customers are with a brand. Brand awareness is measured by brand recognition, the ability to identify a brand when prompted, and brand recall, the ability to remember a brand without prompts.
• Brand loyalty, or customer dedication to a brand, is evident in repeat purchases and a positive attitude toward the brand.
• Brand association refers to the characteristics (like quality) customers associate with a brand.
• Perceived quality is a brand’s overall level of quality.

Brand identity, on the other hand, is how a brand wants to be perceived by customers, while brand image is how customers actually feel about a brand. Brand marketing aims to align the brand image with the brand identity.

• Leadership
• Product Management
• Project Management