First of all, Branding is the process of creating a brand, starting from a product that already exists or is going to be launched . But, don't think that branding is just having a brand name, a logo, a visual identity or a typographic composition. In fact, it is about creating a storytelling around the brand, which is rooted in the functional and emotional benefits of the product , which serves as a solution to improve the lives of its consumers.
On the other hand, brand equity is a long-term benefit international mailing list that you gain through consistent brand-building efforts. In other words, it is the emotional mindshare that a brand commands among its consumers, which allows it to have strategic differentiation, strengthens loyalty and provides an emotional advantage in highly competitive categories.
Factors that affect the measurement of brand equity
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Power of influence in the market
The more a brand is worth, the greater its “power” over the market — not just over its consumers. So measuring the level of influence is a way to indirectly track how much your brand is worth.
In this sense, it is necessary to identify the brand's ability to influence market decisions in general. In fashion, for example, this can be measured by some trends.
Pantone's brand equity is greater because the company can define the colors and palettes for each year and season. Likewise, the clothing brands that dictate what will appear on the runways also have more value.
In other sectors, it may not be so easy to identify the influence on the pace of the market . Even so, it is worth doing an analysis to understand whether your business is a pioneer and makes competitors have to “run after it”. In the case of suppliers, achieving greater flexibility may indicate influence.
From a marketing perspective, it is worth conducting brand awareness research . The idea is to understand what your brand's share is and whether it is a reference in the market.