Brand equity refers to the value added to a product or service by its brand name. There are four main dimensions of brand equity: brand awareness and associations in consumers' minds, influence on purchase behavior, impact on market position and financial performance, and the monetary value of the brand as an asset. Brand equity is created through strong, favorable, and unique brand associations related to the brand's awareness, perceived quality, loyalty, and other attributes. Measuring these dimensions can provide an assessment of a brand's relative strength and equity.

1. Brand equity

4. The concept of brand equity (Franzen, 1999) Mental Brand response Brand behavioural response Market response Brand Equity Mental Brand Equity Behavioural Brand Equity Financial/Economical Brand Equity

8. Brand personality (Aaker, 1997) Brand Personality Scale (BPS) Variance Explained Traits Brand Sincerity 26.5% Domestic, honest, genuine, cheerful Campbell’s, Hallmark, Kodak Excitement 25.1% Daring, spirited, imaginative, up-to-date Porsche, Absolut, Benetton Competence 17.5% Reliable, responsible, dependable, efficient Amex, CNN, IBM Sophistication 11.9% Glamorous, pretentious, charming, romantic Lexus, Mercedes, Revlon Ruggedness 8.8% Tough, strong, outdoorsy, rugged Levi’s, Malboro, Nike

18. Conversion Model Secure users Vulnerable users Open non-users Unavailable non-users Entrenched users users who are not available for conversion, remain loyal Available consumers non-users who prefer the brand in question to their current choice Average users secure users who are not available for conversion, committed to the brand Ambivalent consumers non-users equally attracted to the brand in question and current choice Shallow users beginning to show sign of wavering, loyalty below average, starting to consider other brands Weakly unavailable consumers non-users whose preference lies with their current brand, but not strongly Convertible users on the threshold for leaving the brand Strongly unavailable consumers non-users who have strong preference for their current brand