The theoretical separation of brand equity and brand value: Managerial implications for strategic planning

During the past 15 years, brand equity has been a priority topic for both practitioners and academics. In this paper, the authors propose a new framework for conceptualising brand equity that distinguishes between brand equity, conceived of as an intrapersonal construct that moderates the impact of marketing activities, and brand value, which is the sale or replacement value of a brand. Such a distinction is important because, from a managerial perspective, the ultimate goal of brand management and brand equity research should be to understand how to leverage equity to create value.