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Brand EquityThe concept of brand equity began to be used widely in the 1980s by advertising practitioners.Importantacademic contributors throughout the 1990s were Aaker, Srivastava and Shocker, Kapferer,and Keller.However, a universally accepted brand equity content and meaning as well as measure has notbeenforthcoming. Almost all conceptualizations of brand equity agree today that the phenomenainvolve the valueadded to a product by consumers associations and perceptions of a particular brand .The concept of brand equity is based on the idea that a brand has a value greater than the sumof its tangibleassets. Brand equity is by definition an intangible asset.Brand equity refers to a set of assets and liabilities linked to a brand, its name and symbol thatadd to orsubtract from the value provided by a product or service to a firm and or to that firmscompetitors. In otherwords, brand equity (or subtracts) value to a firm in the form of price premium, trade leverage,or competitiveadvantage.Brand equity is the subject of seminars, of advertising agency presentations and of negotiationby acquirers ofcompanies. There is even a coalition devoted to the fostering and preservation of brand equity.It does not existin nature in the manner that the specific gravity of elements exists as a physical entity. It cannotbe assayed likethe gold content in a piece of ore. Those who argue that brand equity cannot be measured, missthe essentialpoint. Its measurement depends on how it is defined. That definition must have pragmatic valueto a marketer ofconsumer products or services. It should help to improve marketing effectiveness and efficiencyby providing ayardstick with which to evaluate these things. Also, the definition should reflect the role of thebrand in thedynamics of consumer choice in a competitive environment.

1.3.12.1. Meaning and Definition of Brand EquityThe concept of brand equity began to be used widely in the 1980s by advertising practitioners.Importantacademic contributors throughout the 1990s were Aaker, Srivastava and Shocker, Kapferer,and KellerThe concept of brand equity is based on the idea that a brand has a value greater than the sumof its tangibleassets. Brand equity is by definition an intangible asset.Brand equity can be defined as the stored value built up in a brand for achieving competitiveadvantage.Brands are valued for their equity. Brands add value. Everyone in the marketing professionagrees that brandscan add substantial value. It is also true, sometimes, that brands become a burden. The brandcan be both a

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value enhancer and a value driller. A variety of opinions exist about brand equity. Some of theseare as follows:Brand Equity refers to a set of assets and liabilities linked to brand, its name and symbol thatadd to orsubtract from the value provided by the product or service to a firm and or that firmscompetitions.

According to Aaker, Brand equity is a set of brand assets and liabilities linked to a brand, itsname andsymbol add to or subtract from the value provided by a product or service to a firm and/or to thatfirmscustomers.According to Biel, Brand equity can be thought of as the additional cash flow achieved byassociating a brandwith the underlying product or service.According to Chernatony and McDonald, Brand equity consists of differential attributesunderpinning abrand which gives increased value to the firms balance sheet. According to Keller, Brand equity is defined in terms of marketing effects uniquely attributable

to the brands.For example, certain outcomes result from the marketing of a product or service because of itsbrand name,which would not have been occurred if the same product or service did not have the brandname.The marketing literature is laden with works which explore, interpret, and demystify (clarify) theconcept ofbrand equity. The advantages of brand equity direct academic and manageri