Definition:
A brand is a logo, symbol, or name associated with a product. The impact that a brand has on consumer purchases or perceptions about a product is known as brand equity.
The word equity indicates that an asset has been generated. In brand equity, the asset is intangible and is measured in terms of the value attributed by a consumer or potential consumer to the product or service. Brand equity translates into consumer goodwill and propensity to prefer or buy a branded product or service
