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Unit 5 and 6 Discussion Forum
This discussion will last for 2 weeks.
In this discussion there are two set questions that you are required to answer. Label each one as Initial Post 1 and Initial Post 2, and address each question in a separate post during the two weeks of this discussion. Question 1 covers the Unit 5 and question 2 the Unit 6:
Brand equity is often thought to deal with the ‘value’ inherent within a brand. The term can define a set of brand assets and liabilities. Companies can create brand equity for their products by making products or services memorable, easily recognisable and superior in quality and reliability.
What branding decisions should a marketer consider when creating brand equity and why are consumers willing to pay more for a branded product?