Dave (2002), puts it that "The Brand Equity measure summarizes consumer perceptions on five dimensions: Familiarity, Uniqueness, Relevance, Popularity, and Quality." From this, it is apparent that the promotion point and reputation of any company and products is hinged on the brand equity.
Why companies fail in brand equity
All it takes to shrink a brand in today's hyper-linked global network is a single mistake and errant behavior. For instance the recent challenges that IBM and the Toyota brand faced simply due to a defect in their product.
The challenges extend beyond erroneous policies and errant behavior. Global brands must also contend with the fundamental reality that consumers tend to prefer domestic brands over foreign brands. Studies show that home-grown brands get preference over the foreign brands. In some of the world's biggest and richest markets (the U.S., Germany and Great Britain among them) the demand of local brands is especially prominent. If a company is not cognizant of this fact, then it will automatically fail to create brand equity and consequently lose out on the brand community.
Comparatively few companies...
difficulty in measuring brand equity for a brand like Coca Cola. Investopedia defines brand equity as the value premium that a company realizes from a product with a recognizable name as compared to its generic equivalent. As an example, they mention Coca Cola, whose consumers are willing to spend additional money to buy Coca Cola rather than the store brand of soda (Investopedia, 2011). One scenario when brand equity is
Branding and Positioning Cross examination of branded watches in the market The world population is anticipated to grow at an alarming rate of 1.2% which will translate into 700 million customers from the upcoming markets and third world countries (Buchanan, 2007). The global population grossed seven billion in 2011 (Kunzig, 2011). This global population growth will surely drive the industries and their products. With this surging population growth in third world countries
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