What does brand equity measure?

Brand equity refers to the value that a brand adds to a product or service, which is primarily determined by consumer perceptions and experiences. It measures the overall strength and worth of a brand in the marketplace, going beyond mere recognition to encompass the loyalty of customers, the emotional connection they have with the brand, and their perceptions of quality and value.

When examining brand equity, one focuses on aspects such as brand loyalty, which assesses how likely customers are to return and repurchase the brand over time. Additionally, brand attributes play a significant role, as these characteristics can influence consumer preferences and affect their buying decisions. Perceived value is also crucial; it reflects how consumers value the brand relative to its cost, which can significantly impact their willingness to choose it over competitors.

In contrast, market share across industries focuses specifically on the brand's portion of total sales within a specific sector and does not directly reflect consumer affinity or brand perception. The number of advertising messages delivered is more about marketing efforts rather than the intrinsic worth of the brand itself. Lastly, sales numbers versus competitors pertain primarily to financial performance rather than the qualitative aspects that define brand equity. Therefore, the correct answer encapsulates the fundamental factors that contribute to a brand’s overall equity in the eyes of consumers.