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Brand Equity
A measure of a brand's value based on brand awareness and the financial differentiation in a consumers mind. This can be estimated by comparing revenue from the brand in comparison to an equivalent generic product.
Implications
The value that a brand adds to a product or service, based on consumer perception, recognition, and loyalty.
Example
Example: Coca-Cola's brand equity allows it to charge a premium price compared to generic soda brands, despite similar product characteristics.
Related Terms
Different from brand value, which is the financial worth of a brand, brand equity is about the intangible benefits that a brand brings to a product.
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