Brand equity is the resources invested to create a name, phrase, design, symbol or combination of these to identify a firm's products and distinguish them from those of its competitors adding customer value to the product brand through additional features or higher-quality materials or reducing its price increasing the content contained within the brand's package without changing its size or increasing its price the net present value of the royalties the firm receives as a result of licensing its brand to other firms to manufacture and/or market the added customer value a given brand name gives to a product beyond the functional benefits provided