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Brand equity can be viewed both as an intangible or tangible asset and or liability The tangible being the monetary value of a brand and best viewed as the amount of additional income expected from a branded product over and above what might be expected from an identical but unbranded product To best illustrate this point would be a supermarket they frequently sell unbranded versions of name brand products The branded and unbranded products are produced by the same companies but they carry a generic brand or store brand label like No Name or Home brand Store brands sell for significantly less than their name brand counterparts even when the contents are identical This price difference is the monetary value of the brand name However according to Aaker1996 the most important assets of any business are intangible its company name brand symbols and slogans and their underlying associations perceived quality name awareness customer base and proprietary resources such as patents trademarks and channel relationships The intangible value associated with a product that can not be accounted for by price or features is illustrated by globally renowned company Nike I has created many intangible benefits for their athletic products by associating them with star athletes Children and adults want to wear Nikes products to feel some association with these star athletes be like Mike The marketing image that has been created for Nike is the driving force of the demand for the products rather than the physical features Buyers are willing to pay extremely high price premiums over lesser known brands which may offer the same or better product quality and features Ideally brand equity is a set of assets and liabilities linked to a brands name and symbol that adds to or subtracts from the value provided by a product or service to a firm andor that firms customersAaker1996 These assets which comprise brand equity are a primary source
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