Essay: The Concept of Brand Equity
Brand Equity can be seen as the value attached to a specific brand of products either to the customers or to the firm owners. Brand equity can be viewed in two different circumstances namely firm-based brand equity and consumer-based brand equity as argued by Campbell (2002).
While the firms perspective is concerned with the revenues associated with brand equity, the customers view is concerned with familiarity and uniqueness of a brand. A brand will be considered equity by a firm only if it adds cash values to the firm. If customers are found to purchase a specific brand more than others, it follows that the brand highly purchased has brand equity. This is equity to the firm for it adds money value to the firm (Farquhar, 1990).
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