Brand Equity: Brand equity refers to the value of a brand name. It is a valuable asset of a brand in any organization. Because, customers are willing to find out and buy that brand among various competitors’ brand. Brand equity can be defined in many different ways. For a brand to be strong it must accomplish two things over time: retain current customers and attract new ones. To the extent a brand does these things well, it grows stronger versus competition, and delivers more profits to its owners. According to Staton and Walker, “brand equity is the value, a brand adds to a product. According to David Aaker, “A set of brand assets and liabilities linked to a brand, its name and symbol that add to or subtract from the value provided by a product or service to a firm and/or to that firm’s customers.” By combination of brand strength and brand value brand equity is formed. Brand strength is the set of association and behaviors that brand’s customers, channel...