Brand equity

Brand equity refers to the influence and value a brand name holds among consumers. It represents the advantage of having a brand that is both easily recognizable and highly regarded. Moreover, brand equity signifies the financial value a brand contributes to a company, stemming from customers’ willingness to pay a premium price, their loyalty to the brand, and the brand’s recognition. The concept of brand equity was theorized in detail by K. L. Keller and D. A. Aaker.