Brand equity concept: Dimensions, benefits, and construction

Brands and branding have been significant topics in the marketing and business field for quite some time. These themes have been discussed and explored widely due to the remarkable effect brands have on companies and on the marketing of the commercial products. Brand equity is a concept which is very essential when studying brands and useful when considering such matters as what is behind a success of a brand. The aim of this thesis was to explore the meaning of brand equity as well as to enlighten its benefits and the basics of building it. The research problem was studied by using some of the highly referred academic material related to the phenomenon and this material was selected via several databases with relevant keywords. Based on literature, brand equity was found out to be a multidimensional concept with various definitions, viewpoints, and contexts. The benefits for companies are also numerous, but the added values of brands can be seen to benefit consumers as well. Constructing brand equity is therefore an important task for company management and marketing professionals. It was elicited in the thesis that comprehending the dimensions of brand equity helps the management to construct and develop this complex but valuable equity