In following suit of our recent class debate, I would like to elaborate on what it takes to create brand equity.  If you recall, we discussed how big name-brands such as Coca-Cola and Miller Light have taken a well known and well liked product that was once a classic and turned it into an atypical brand that is no longer at the top of our “list” as consumers.  By doing so, they essentially destroyed years and years of brand equity. 

First off, what is brand equity?  Brand equity is something that is intangeable.  It is  the association of a particular product or service made by the consumer.  If it is a well recognized brand, it will have a positive association with consumers when they are shopping for that product or service.   

At the root of a brand’s equity is consumers’ knowledge. In other words, consumers’ knowledge about a brand makes them more apt to purchasing this particular product over it’s competetitors.  Consumer’s “knowledge” about a brand includes whether is works, has good or bad reviews, is it cost effective, do our peer’s use the same product, does it taste good, is it useful, will it last, is it comfortable, etc, etc.