Managing Brand Equity in Automobile Industry (Paperback)
The most precious assets for a company are brands, in today's scenario. Gone are the days when firms believed that their factories and other tangible assets like land and machinery were their most valuable assets. Brands are rising in the value hierarchy of assets. Development and creation of brands are invaluable due to enormous returns that brands provide to companies. This is due to the ability of brands to simplify consumer purchase decision process, reduce the risk they perceive and content needs and wants resulting in consumer's preference towards brands instead of unbranded alternatives. American Marketing Association defined the brand as "a brand is a name, term, sign, title, design, symbol or an assortment of them, intended to recognize the goods or services of one marketer or group of marketers and to distinguish them from those of competitors".