A Comprehensive Review of Brand Equity: Conceptualization, Origin and Evolution

Abstract

There was a search for all-encompassing definition for brand equity by the academicians till 1990’s which
resulted in myriad of definitions. All these efforts to define the term were essentially conceptual in nature
which did undergo a change in the coming time. Some brands have been able to carve out a space for
themselves in the consumers' hearts over the centuries and still stand out among floods of others.
Consumer-based brand equity takes into consolidation the consumers’ feelings of a particular product to
associations that are not necessarily related to specific product attributes, that is, associations that exist
independent of the product itself. The customer level measurement, basis its perception of brand value
originating entirely from the consumers (what they buy, how they buy, why they buy, etc.). Therefore,
consumers assign levels of equity to brands when they favor one over the other. From the consumers’
point of view, brand equity is part of their attraction to or repulsion from a product. This perspective
allows marketing managers to use an effective strategy in understanding and influencing consumer
attitudes and behaviors. Consumer-based brand equity (CBBE) focuses on understanding consumers’
state of mind in brand selections and identifying the sources of brand values. Our study is an attempt to
understand the different conceptualizations of Consumer Based Brand Equity and there by reflecting on
its origin and evolution. This will help to connect the missing linkage between different approaches for
the study of Consumer Based Brand Equity.