brand-equity

Vocabulary Word

Definition

'Brand equity' measures the value of a brand's good reputation and customer loyalty. Companies with high brand equity can sell products for more because people trust and love them.

Examples in Different Contexts

Non-profits with established brand equity often find it easier to mobilize support, gather volunteers, and fundraise, as the public trusts and values their mission and work.

Practice Scenarios

Design

Scenario:

We've ensured a consistent look across all our platforms. Do you think this has brought about increased trust among our users?

Response:

I agree, our consistent design language across platforms has undoubtedly strengthened our brand equity among users.

Leadership

Scenario:

As we move forward, maintaining our competitive position in the market remains our primary focus. What steps do you suggest for bolstering our brand value?

Response:

To safeguard our brand equity, we should invest in quality, customer relationships, and consistently deliver on our brand promise.