Definition: Brand value

Category: Purchasing power parities

The importance that consumers attach to a brand name. Consumers often perceive products with certain brand names as preferable to similar products sold under other brand names. This is usually because some brands are considered to be of superior quality to others. Alternatively, it may have nothing to do with quality and is due to an image of uniqueness or desirability fostered by publicity, fashion or both. Whatever the reason, if consumers are prepared to pay more for a particular brand name than for another, this gives the brand name a brand value. A brand name with a brand value is a price determining characteristic and as such should be included in the product specification. http://ec.europa.eu/eurostat/product?code=KS-RA-12-023&mode=view