The document discusses key concepts in branding and brand equity including: 1) It defines what a brand is and how branding works to identify the goods or services of one seller and differentiate them from competitors. 2) Brand equity is the differential effect brand knowledge has on consumer response to the marketing of that brand. Strong brands have improved perceptions, greater loyalty, and larger margins. 3) Brand equity is built through strong brand elements, effective marketing activities, and meaning transference between the brand and consumer. It is measured through brand audits, tracking, and valuation models.

1. Marketing Management, 12/e A South Asian Perspective 10 Creating Brand Equity

3. Brand A name, term, sign, symbol or design, or a combination of them, intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors.

6. Branding Endowing products and services with the power of a brand.

7. Brand Equity The differential effect that brand knowledge has on consumer response to the marketing of that brand.

10. Brand Promise The marketer’s vision of what the brand must be and do for Consumers.