A couple of years ago I was invited to make a series for the BBC about brands. In one episode we went to a London pub to recruit brand-loyal drinkers in a London pub who claimed that they drank only one particular beer.
I have always been a working smoker. While I never touch the evil weed at home, I accept the occasional one when I am consulting, for a very simple strategic reason: you can learn more from a fellow smoker in five minutes outside headquarters than you could glean in three weeks with the chief executive.
Brand Equity is the commercial value of all associations and expectations (positive and negative) that people have of an organization and its products and services due to all experiences of, communications with, and perceptions of the brand over time.
If a brand has equity it implies that the brand is an asset that has value. In fact, many studies over time have demonstrated that brand equity is a significant contributor to stock price, company valuation and shareholder value.
The findings from our comprehensive brand equity study of the insurance industry has implications for many industries. Here is what we found:
