Leveraging Fashion Equity, the Absolute Benefit
In marketing literature, the concept of brand equity accounts for the additional value that a brand brings to a product.1 This concept has dramatically improved our knowledge of consumers’ reactions to and behavior toward branded products. Brand equity from the consumer perspective, as defined by Keller, is “the differential effect of brand knowledge on consumer responses to the marketing of the brand.”2 It refers to consumers’ reactions to an element of the marketing mix for a branded product, compared with their reactions to the same marketing mix for an identical product without any brand. Just as brand equity can explain why high equity brands appeal more to consumers than do low ...
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