Financial value associated with brands strength in market

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Reference no: EM131016138

Brand equity is the marketing and financial value associated with a brand's strength in a market. In addition to the actual proprietary brand assets, such as patents and trademarks, four major elements underlie brand equity: brand-name awareness, brand loyalty, perceived brand quality, and brand associations. Co-branding is the use of two or more brands on one product. Marketers employ co-branding to capitalize on the brand equity of multiple brands. For example, Kraft's Lunchables product teams the Kraft cheese brand with Oscar Mayer lunchmeats, another Kraft-owned brand. Brands, however, may be owned by different companies such as Kellogg's Healthy Choice Cereal (Healthy Choice brand is owned by ConAgra). For fun, brainstorm some co-branded products that might go together with the following types of products: cookies, pizza, chips, sports drinks, or any other products you can think of. Do any strategic opportunities exist from co-branding your own company's product(s) or service(s) with existing brands in your company's product mix or with another company's brands?

Reference no: EM131016138

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