‘The positioning of the brand. The only choice to make…without reservation.’
The value of qualities and attributes implied by the brand name and reflected in choices in a competitive marketplace, i.e. the ability of a brand to “shift demand” (travelers will choose America’s Byways over Readers Digest or AAA scenic drives).
While brands exist as objective entities, brand equity resides only in the minds of consumers and key influencers.
Brand equity is measured relative to existing and future competitors
The level of brand equity varies among segments and can be positive or negative Brand Strategy. It is a method to capitalize on the value of the brands to achieve profitable growth (i.e. positive economic impact on byway communities). The focus is a long term perspective and must be closely linked to business strategy.