According to the American Marketing Association, a brand is a “name, term, sign, symbol, or design, or a combination of them intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of the competition”.
According to David Aaker, brand equity is “a set of assets (and liabilities) linked to a brand’s names and symbol that add to (or subtract from) the value provided by a product or service to a firm and/ or that firm’s customers. Brand equity is a combination of intermediate consumer responses and both customer and firm benefits.
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