What are some brands that you believe have high brand equity? What are some of the elements of these recognizable brands? Do you think it is crucial to manage brand equity? If so, why? Name a recent brand crisis with which you are familiar with. Do you feel this crisis was managed well? Why or why not?
Those brands with high brand equity are those brands that not only have high value in terms of legal property, but also have very high power of influencing consumer behavior and often customers, have a strong loyalty and value for the brand (Keller, 2010). Some of the brands that have high brand equity include brands such as Microsoft, Apple, Wal-Mart, Nike, Prada, Coca-Cola, and Rolex. These are among the highest most recognizable brands in the world. Some of the elements that render these brands as recognizable are the brand recognition and awareness which determines the level by which a brand is known and acknowledged by consumers as a high quality brand; brand value, thus brands have very high market value in terms of intellectual property and through the perceptions through which customers view these brands; these brands appeal to the feelings, thoughts, experiences, images and perceptions of ...
The solution explains concepts of brand equity, recognizable brands and brand crises in companies like Starbucks and Microsoft in 590 words with 2 references included.