Brand Equity Essay Example | Topics and Well Written Essays - 500 words

Brand Equity - Essay Example In my opinion, Starbucks Coffee is a brand that has developed a high level of brand equity. The question arises that what creates brand equity and how can it be managed. For most people, a brand is simply a name given to a particular product or service that is manufactured or offered by a particular company. Thus the brand name in time becomes associated with the company and reflects its quality of products or services. If successful, the company can also increase the number of items in its product line depending on the good reputation and name of its original product or service. Customers are likely to buy and try the new products or services if they have a need for them. This is also because of the positive image they have of the company and its earlier offerings. Another way of seeing brand equity is that it is the value of your product or service to the customer- it is the reason why he prefers your offering compared to others in the marketplace. This can be because of ambience, value for money, variety of offerings or any other reason. Here are some ways in which I th ink Starbucks has created its brand equity or value for the customer: Starbucks Coffee is known for the quality of its product offerings. Be it the rich brewed coffees and espresso-based hot and cold drinks, hot or cold sandwiches- everything spells quality. The customer can rely on this every time they walk into the store. What’s more, this principal value is followed all across Starbucks stores worldwide (Assistant, 2009). Most customers would equate Starbucks to a good live experience. If you are a regular customer, the hostess would not only remember your name, but also what you generally prefer and the quantity of sugar you like in your brew. The point that the coffee is made in front of you, where you can watch the process if you like, also helps Starbucks quality resonate in the mind of the customers. It is not surprising to find groups of friends or office colleagues coming