Brand Equity

Overview:

This lesson continues the lesson on brands, branding and brand strategies to now highlight the concept of brand equity. Building on earlier concepts, students analyze the various elements that constitute brand equity. According to the Knowledge@Wharton High School glossary: Brand equity refers to the marketing of facts that are uniquely attributable to the brand. In particular, brand equity captures the outcomes, including how aware consumers are of the product, how much they like it, how committed they are to it, and how much they’re willing to pay for it, that result from a product’s name. From the general concept of branding (ideas, emotions attached to a distinct identity, name, logo), we now move to specific expectations from branding — name recognition, market share, sales, etc. In today’s competitive world the leverage a brand offers a product is tangible and extremely valuable for marketing departments.

NBEA Standard(s):
  • Marketing, I. Foundations of Marketing

Lesson Plan Details:

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