Definition: Well-known brand

Category: Purchasing power parities

The term in a product specification that indicates that the product specified has a brand value without specifying any particular brand or brands. Well-known brands can be international brands or national brands. Well-known International brands may not necessarily have the same brand value in all participating countries. Hence, for those kinds of products for which brand value is important, products such as clothing, footwear, furniture, household durables and consumer electronics, Eurostat and participating countries have classified well-known international brands into three segments - high, medium and low - that reflect the brand value perceptions in participating countries. Countries locate the segment in which to include a well-known national brand by identifying a well-known international brand with an equivalent brand value and putting the national brands in the same segment. Product specifications covering well-known brands also specify the segment from which the well-known brand or brands are to be taken. http://ec.europa.eu/eurostat/product?code=KS-RA-12-023&mode=view