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Minor Assignment One – Progress Report on Brand Equity
Chernatony, L Brand management 1998 Dartmouth Publishing Co. Ltd England
This Author provides an interesting point where he describes brand equity as a “word that conotates a gimmicky tactic for a less serious consumer product”. ... He also explains that reasons for purchase come more down to buyer behaviour than it does brand equity as such and that choices are made through perceptions and attitudes.
This suggests more for the argument that brand equity isn’t as important for a business as the ability of the products features to satisfy a need or want of the consumer. If, for example there are two identical products, then the one with greater brand equity may be the preferred item, but this comes after the satisfaction of the product through its attributes
Lehman, D, Winer, R Product Management 1997 Mcgraw-hill, Singapore
Lehman and Winer come out and say that Brand equity is the value of a product to a customer beyond that explained by functional, service and image attributes.
Approximate Word count = 743
Approximate Pages = 3
(250 words per page double spaced)
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