Brand equity is the incremental value that a brand derives from the thoughts and feelings that it evokes.
Prior to its launch in 1985, 190,000 taste tests undisputedly confirmed that consumers preferred the New Coke formulation. What mattered, however, was the extraordinary affinity for Coca-Cola, the brand. This state of mind that aroused the outpouring of affection for the brand is its source of equity.
Ultimately, as depicted in Exhibit 2.0, factors such as awareness, perceptions, imagery and attitudes are the key drivers of brand equity.
Note: To find content on MarketingMind type the acronym ‘MM’ followed by your query into the search bar. For example, if you enter ‘mm consumer analytics’ into Chrome’s search bar, relevant pages from MarketingMind will appear in Google’s result pages.