In the quest of understanding Brand Equity, here is what I had been thinking from long time and Sunil Alagh lecture in a seminar sparked off some more focus and clarity on the way in my understanding.
These are applicable to both B2B and B2C sectors.
A Brand can be said to be a bundle of two things: A Product and Emotional linkages to consumers.
The diagram on left shows three positions that a brand can be perceived in market.
1: Too good product but bad in terms of emotional appeal in consumers (example could be Air India promising a great experience and the recent adverts of a pilot sitting with a girl , well as of now everybody knows its not there and communicating what is not there before you ensure consumers expereince it is deadly)
2. A company / brand which people can relate very easily and commands a good deal of loyalty in consumers but launches something with bad content and the product generally flops despite a good taking in the beginning (Ex: Pepsi launching Pepsi Blue)
3. Balance between Product and Perceptions: generally perceptions carrying sucessful product (Ideal case) Orange in UK (not Indian Orange brand)
Example of Mobile Industry (Global). These is my understanding.