GROWING BRAND EQUITY IN THE RESTAURANT INDUSTRY: THE KEY FACTOR FOR CONSUMER BRAND EQUITY GROWTH
Brand equity is a relatively intangible thing. While there have been myriad models and tools developed to try and accurately calculate it across various industries, no definitive model has emerged as yet. Of particular importance to this paper, no model has been developed which can effectively be applied to the restaurant industry.
This should come as no great surprise considering the fact that so much of brand value and equity is consumer led within this industry. It nonetheless remains that today, brand equity is widely considered to be a company’s greatest asset, and an area of primordial importance in strategic decision making.
Considering the sheer scope of the question: “What can restaurant brands do to grow their brand equity?” this paper will focus on four core elements which impact brand equity. Further aspects of growing brand equity will be addressed in subsequent papers.
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