What is brand equity

The brand equity, or brand heritage, is the set of knowledge and values that a brand carries within itself, developed over time.

In fact, brand equity encompasses many other marketing terms and is, in any case, linked to the overall awareness of the brand.

Characteristics of brand equity and Keller's Brand Equity Model

Brand equity is a fundamental concept for a company's marketing strategies and its success in the market.

To measure brand equity, a model called the Keller's Brand Equity Model was theorized by its creator, Kevin Lane Keller, a famous American marketing professor who devised it.

Keller's Brand Equity Model consists of four fundamental pillars:

• The first pillar of Keller's pyramid is the brand identity (the brand identity) which creates differentiation from competitors.
• The second pillar of Keller's pyramid is brand communication (the so-called brand meaning).
• The third pillar of the pyramid is brand response (that is, the user's response to brand communication) and, consequently, the brand image and brand awareness.
• The fourth pillar is defined as brand relationship and represents the relationship between the consumer and the brand.

The brand loyalty is the result of various factors that we have analyzed but which is, however, embedded within the same brand equity.

Examples of brand equity application

An important example of complete and consolidated brand equity is that of Starbucks. The famous American multinational primarily distributes coffee but has such a solidified brand equity, carrying with it significant social values and green marketing!

Not coincidentally, from 2018 to 2019 Starbucks increased its market value from $9.52 billion to $11.8 billion!

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