brand – VTiger Experts https://www.vtexperts.com VTiger Support, Development, Data Migration, Customization and Extensions, Plugins, Addons.. Fri, 20 Jan 2017 18:21:30 +0000 en-US hourly 1 https://wordpress.org/?v=5.4.2 Significance Of Brand Equity https://www.vtexperts.com/significance-brand-equity/ https://www.vtexperts.com/significance-brand-equity/#respond Fri, 20 Jan 2017 18:21:30 +0000 https://www.vtexperts.com/?p=7495 “The commercial value that derives from consumer perception of the brand name of a particular product or service, rather than from the product or service itself.” Actually it is the value of a brand. Brands are just the names and symbols. Brands symbolize consumers’ perceptions and feelings regarding any product and its performance – everything that the good or service means to consumers. According to the analysis, brands exist in the minds of customers. Thus, the actual value of a strong brand is its power to capture customer preference and loyalty. A strong brand has high brand equity because it effects customers’ reliability and reactions toward the particular product or service. Evaluation of a brand’s equity is the extent to which consumers are willing to pay more for their favorite brands. A study found that 72% of buyers would pay a 20% premium for their desired brand than the closest

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