Fusion for Profit: How Marketing and Finance Can Work Together to Create Value

By Sharan Jagpal; Shireen Jagpal | Go to book overview

19
Measuring and Building Brand Equity
One of the key objectives of marketing is to differentiate the firm’s products from competitive brands. Loosely speaking, the firm’s goal is to develop brand equity. (A more formal definition will be given later in the chapter.) This raises a number of interesting questions. From a Fusion for Profit viewpoint, how can one measure the dollar value of brand equity? From a strategic viewpoint, what marketing strategies should the firm use to build and sustain its brand equity in the marketplace? This chapter addresses these issues.The information covered in this chapter will be useful when you are faced with the following types of decisions:
Under what conditions does my firm’s product have brand equity?
If my firm’s product has brand equity, should my firm price its product higher than similar products in the marketplace?
Which method or methods should my firm use to measure the dollar value of the brand equity of its product?
Should my firm use financial data, behavioral data, or a combination of metrics to estimate the brand equity of its product?
How does the name of my firm’s product affect the product’s brand equity?
How does competitive behavior affect the brand equity of my firm’s product, and how can my firm measure these effects?

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