Marketing - What is Brand Equity?

The video tutorial discusses how marketers use products to deliver value, emphasizing the importance of brand equity. Brand equity is defined as the additional amount consumers are willing to pay for a product due to its brand. Examples like Nike and Louis Vuitton illustrate how reliability and status contribute to brand equity. The tutorial also covers the challenge of measuring brand equity and the importance of developing it.

What is brand equity and how does it affect consumer behavior?

How does reliability contribute to brand equity?

Can you provide an example of a product that has strong brand equity? Explain why it has that status.

Why do consumers often prefer branded products over generic ones?

In what ways can marketers develop brand equity?