Summary
This video delves into the significance of brand management in shaping consumers' choices and purchasing decisions. It emphasizes how brand equity, gauged through aspects like favorability and momentum, plays a pivotal role in this process. The methods outlined for measuring brand equity include assessing favorability, momentum, and financial valuation. Additionally, the video introduces the notion of customer equity and elaborates on how it is computed by considering the current value of income generated from customers.
Brand Management and Consideration Set
Explains the concept of brand management and how it impacts the consideration set of customers when making a purchase decision.
Building Brand Equity
Discusses the importance of brand equity and how it can be measured through factors like favorability and momentum.
Measuring Brand Equity
Describes the methods for measuring brand equity, including evaluating favorability, momentum, and financial valuation.
Customer Equity
Introduces the concept of customer equity and its calculation based on the present value of the income stream from customers.
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