Brand equity is one of the popular and potentially important concepts in marketing that emerged in the 1980s. It has raised the importance of the brand in marketing strategy. Many scholars have expressed their views in defining brand equity.
“Brands have equity because they have high awareness, many loyal consumers, a high reputation for perceived quality, proprietary assets such as access to distribution channels or to patents, or the kind of brand associations (such as personality associations).”
—David A. Aaker, Managing Brand Equity, (Free Press 1991)