Brand value and brand equity: essence, difference and relationship
DOI:
https://doi.org/10.26661/2522-1566/2022-4/22-05Keywords:
brand, brand equity, brand value, brand valuation, brand strength, brand imageAbstract
The article is devoted to the disclosure of the essence of the concept of brand capital, brand value, the main approaches to their definition are characterized, the distinguishing features of each category are given, but in their relationship. The criteria that determine the value of the brand from the point of view of the consumer and from the point of view of the producer are presented. The main approaches to the components of the brand model are considered. The main components of brand capital are revealed - value, power and image. When evaluating brand capital, it is suggested that managers take into account the stages through which the consumer passes in his relationship with the brand.
In the course of the research, definitions of brand equity as an economic category and enterprise asset were given; its main elements are identified; the main principles of brand equity management are characterized, which will contribute to the improvement of the effectiveness of brand management.
JEL Classification: А10, R11, D11.
References
2. Keller KL. (1993) Conceptualizing, Measuring, і Managing Customer-Based Brand Equity. Journal of Marketing. 57(1). 1–22. http://doi.org/10.2307/1252054
3. Lindstrom M. (2005). Brand Sense: How to Build Powerful Brands Through Touch, Taste, Smell, Sight & Sound. Kogan Page Publishers. 237.
4. Ries Al, Ries L. (2005). The Origin of Brands: How Product Evolution Creates Endless Possibilities for New Brands Paperback.
5. Wood L. (2000). Brands and Brand Equity: Definition and Management. Management Decision. 38(9). 662-669.
6. Hakala U., Svensson J., Vincze Z. (2012). Consumer-Based Brand Equity and Top-of-Mind Awareness: A Cross-Country Analysis. Journal of Product & Brand Management. 21(6). 439-451.
7. Farquhar P. Managing Brand Equity (1989). Marketing Research. 1(3). 24–33.
8. Anselmsson J., Bondesson NV, Johansson U. (2014). Brand Image and Customers' Willingness to Pay a Price Premium for Food Brands. Journal of Product & Brand Management. 23(2). P. 90-102.
9. Netemeyer RG, Krishnan B., Pullig C., Wang G., Yagci M., Dean D., Ricks J., Wirth F. (2004). Developing and Validating of Facets of Customer-Based Brand Equity. Journal of Business Research. 57(2). 209-224.
10. Krishnan HS. (1996). Characteristics of Memory Associations: A Consumer Based Brand-Equity Perspective. International Journal of Research in Marketing. 13(4). 389-405.
11. Studinsʹka H. YA. (2015). Umovy kapitalizatsiyi brendu. Naukovyy chasopys. Ekonomika i pravo. 27. 110–118. [in Ukrainian].
12. Shevchenko O. L. (2013) Brend yak aktyv: pryntsypy stvorennya i upravlinnya. Vcheni zapysky KNEU: Ekonomika. №15. 109 -114. [in Ukrainian].
13. Erdem T., Swait J., Louviere J. (2002). The Impact of Brand Credibility on Consumer Price Sensitivity. International Journal of Research in Marketing. 19(1). 1–19.
14. Agarwal MK, Rao VR. (1996). На Empirical Comparison of Consumer-bBased Measures of Brand Equity. Marketing Letters. 7(3). 237-247.
