Essay on The Value Of Apple Brand
According to Interbrand, a brand consultancy, Apple is the world’s most valuable brand in 2015; the value of Apple brand is worth $170.276 billion dollars. This valuation represents Apple’s intangible assets, which is a combination of intellectual capital, brand equity and goodwill.
Brands with high levels of equity are associated with outstanding performance including sustained price premiums, inelastic price sensitivity, high market shares, and successful expansion into new businesses, competitive cost structures and high profitability all contributing to companies’ competitive advantage (Keller and Lehmann 2003; Vazquez et al. 2002).
Brands have become valuable assets to companies, and therefore, learning and understanding how to build, measure, and manage brand equity is of utmost importance (Kapferer, 2005).
In the early 1980s, the concept of brand equity was emerging that became one of the most researched areas within the field of marketing.
Since 1980s, brand equity is perhaps the most important marketing concept.
With the purpose of better understanding how to build, measure and manage brand equity, the study aims to pursue four objectives:
1) explore the concept of brand equity and provide a literature review on evolution of brand equity concept;
2) discuss brand equity from different perspectives, primarily Customer-based brand equity (CBBE) and financial-based brand equity (FBBE);
3) discuss the role of brand identity and how it…