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4.1 BRAND
As a name, term, sign, symbol, or design, or a combination of
them, intended to identify the goods or services of one seller or
group of sellers and to differentiate them from those of
competitors.
BRAND EQUITY
•The brand’s value that determined by consumer perception &
experiences with the brand.
•This value may be reflected in how consumers think, feel & act
with respect to the brand, as well as the prices, market share &
profitability that the brand commands for the firm.
•One measure of a brand’s equity is the extent to which customers
are willing to pay more for the brand.
