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Brand equity is a phrase used in the marketing industry which describes the value of having a well-known brand name, based on the idea that the owner of a well-known brand name can generate more money from products with that brand name than from products with a less well known name, as consumers believe that a product with a well-known name is ...
Today's consumers judge retail brands by how they engage shoppers, whether retailers are listening to consumer preferences, understanding what consumers want to buy and when they want to buy. Consumers want retailers to offer them ideas for future purchases based on their personal preferences. This stream of instant customer feedback via social media is generating a seemingly unmanageable amount of information.