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Brand equity can come in many forms… it could be in the form of charging higher prices for the same products, such as the case in this example and also the case with many luxury brands.

It could also come in the form of positive consumer reaction and trust when they see the brand name on a certain product .. it could be in the form of higher market share.

And it could even be negative.. and that is when consumers react negatively to a product when they see a certain brand name attached to it.

So why would you want to build brand equity for your business?

For many reasons.

For one, positive brand equity gives pricing power, which translates into higher margins and profitability for your business as well as the ability to survive during times of high inflation.

This brand equity also helps you when you launch new products by giving them the same brand name and give them a powerful head start just form the brand equity you have already built in your older product

And another important advantage of brand equity is that this equity is actually a valuable asset that can be quantified and added to your company’s value.

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We cover everything, from buying products, pricing, merchandising, managing sales, managing inventory, managing cash flow to managing financials.

Visit our website and start reading through our free retail management guides and articles, and download our free templates and cheat sheets that will help you while starting a retail or ecommerce business.

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