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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 ...
Consumers build brands, not companies. This is a fundamental marketing truth that cannot be denied. Consumers give brands value by developing perceptions and expectations for those brands. Companies enhance the value by delivering consistent brand experiences that consumers can trust. Human psychology and how it affects consumer behavior is the foundation of brand building.