“[Brand equity is] the value of a brand. From a consumer perspective, brand equity is based on consumer attitudes about positive brand attributes and favorable consequences of brand use.” — defined by the American Marketing Association
Brand equity is more than the look and feel that a brand presents – it’s the tangible and intangible value perceived by its consumers. When consumers become loyal to a brand, marketing costs are reduced, consumer loyalty increases, and sales thrive, based on consumer visibility, commitment, and familiarity. Once established, the customer will perceive quality, reasons to buy, and a positive attitude toward the company as a whole.