An Overview of the Composition and Management of Brand Equity

Abstract

The definition of brand equity has been gradually improved, but the existing studies are mostly case studies and unilateral studies, and the studies that integrate and sort out brand equity from multiple perspectives are relatively rare. By reviewing and sorting out the international literature on brand equity, this paper summarizes the definition, components, evaluation methods and prospects of brand equity, in order to promote the better development of corporate brand equity. The article holds that it is very important to use publicity channels effectively to stimulate consumers, establish effective brand association, and enhance brand awareness and recognition to enhance brand value. In addition, brands need to segment the market and strengthen brand trust in a targeted way. And establishing a consistent and effective brand image helps to enhance brand awareness and brand recall, as well as promote brand loyalty. At the same time, for high-equity brands, brand extension and expansion is also particularly important.