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a brand is a friend
Business leaders talk about the importance of maintaining strong brand equity, but is there consensus on what brand equity is? Some people say it’s everything associated with the brand that adds to or subtracts from the value it provides to a product or service. Others emphasize the financial value of the brand asset. Still others stress the consumer loyalty or price premium generated by brand equity. Some even talk about the permission and flexibility a brand gives an organization to extend into new product and service categories. While all of these opinions are very important parts of brand equity, I think the following story best illustrates what brand equity is.
Imagine you are having lunch with a longtime and very good ...
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