Wordz & Jargonz- II

Aficionado

Pronounced as affi- shio- nado, the word means a zealous proponent, say a sports aficionado.

Brand Equity

The brand equity refers to an intangible aspect that depends on basically three perspectives:

Financial : A method of evaluating the brand equity is determining the premium price which a brand has for a generic product

Brand extensions: A successful brand can be used for launching additional brands related to that one

Consumer: A powerful brand encourages the positive attitude of the consumer over the product

Brand Value

This can be defined as one of the parameters which contribute to brand equity giving it a more tangible or trade able perspective. 

Brand-Price-Trade-Off (BPTO) premium – Many brands are shown and the consumer chooses one of them. Afterwards the prices are modified and the consumer makes a new choice. the purpose of this method is to obtain a relative value of the brand. For example, Coca-Cola scored 5% more than Pepsi.

Brand vs. Functional value one- A brand has a functional element and an emotional or associative one identifying the functional value. Often the “conjoint analysis” method is used for this. For determining the emotional value we can use the studies related with the brand association or the sensory emotional studies

Researched value vs. Accountant’s value – another way refers to the added financial brand value in comparison with similar products. A way to measure it is EVA (economic value added).The researcher's value refers to brands' perception as can be ascertained through market research.