What does Brand Equity mean? Read on to discover the definition & meaning of the term Brand Equity - to help you better understand the language used in insurance policies.
The consumer confidence, loyalty, and favorable reputation that a business's product or service has earned in the marketplace. A loss of or reduction of brand integrity can cause a substantial reduction in revenues and market share. Brand integrity can be damaged or lost as a result of many types of fortuitous events, such as product contamination or tampering incidents.
We hope the you have a better understanding of the meaning of Brand Equity.