What is Customer-Based Brand Equity?

customer-based-brand-equity

[[p]]According to marketing author and professor [[a href="https://faculty.tuck.dartmouth.edu/kevin-lane-keller/" target="_blank"]]Kevin Lane Keller[[/a]], [[em]]&ldquo;The power of a brand lies in what consumers have learned (felt, seen, heard) about a brand &ndash; and this resides in the minds of the consumer.&rdquo;[[/em]][[/p]]

[[p]]To consumers, brands are more than just&nbsp;features of the products or services they sell. Brand adds value to a product, so it&rsquo;s important to understand this value, especially from a customer perspective.[[/p]]

[[p]]Brand equity is an intangible aspect that&rsquo;s created through your marketing and branding efforts. It&rsquo;s the consumer&rsquo;s perception of the brand, rather than the&nbsp;functionality of the product or service. It&#39;s the associations people have with your brand and how these&nbsp;work together to form a brand personality. In its most holistic form, brand equity is the entire [[a href="https://digitalmarketinginstitute.com/blog/what-is-customer-experience-cx" target="_blank"]]customer experience[[/a]] with a brand. In this context, brand equity is generated by both brand awareness and brand image.[[/p]]

[[p]]Keller introduced a very useful model that&rsquo;s known as [[strong]]customer-based brand equity[[/strong]]. Aside from using the model to understand the customer-based equity of a brand, it can also be used as a roadmap for brand building. And as you would typically approach building any structure, you start with laying the foundation: [[strong]]salience[[/strong]].&nbsp;[[/p]]

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What is Customer-Based Brand Equity?

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