Create a 10 page essay paper that discusses Success in Business: A Brand Equity Perspective.
This research aims to evaluate and present the concept of branding that is a popular technique used by the marketing professionals across various industries. The presence of the brand value to a product helps in providing a good competition on the market and the perception of the consumers towards the product changes leading to an overall rise in performance of the organizations. The concept of brand equity deals with the results of the marketing effects of the branding and the comparison of the results of the marketing effort of the same product without the presence of the brand value. Product equity or the value associated with a product is a significant factor in the marketing of the products. The products performance and the reviews from the existing customer’s guides increase the product equity. In today’s business environment it is extremely important for any product in the market to have considerable high value attached with the product equity so that it may sustain in the market. Other than the age old product performance and the price factor constituting the product equity, another parameter which has been in extensively popular in the recent times is that of the concept of branding. The brand value of a product increases the overall product valuation and contributes significantly to the product equity. Branding has been more popular in recent times as organizations have found out that other than providing a value in the marketing aspect it has became one of the significant intangible assets. The role of the brands has been significant in creating a competitive edge over the rival and in fetching substantial financial values for the organization. Brand equity provides the leverage option for the organizations which helps in the overall improvement of the performance. The major constituents of the brand equity are the awareness regarding the brand name, the level of brand loyally existing among the customers, the quality associated with the brand and the various brand associations. The concept of brand equity is largely product oriented but at the same time it helps in the value creation among the customers regarding the products they associate with. In order to measure the performance of the brand equity various categories have been devised. The awareness of a product due to the attachment of brand value is a significant measure of the brand equ