Equity is what I say it is.

The adaptation of a quote from Lewis Carroll, by US academic Don Schultz, sums up the current position on brand equity. "It's [brand equity] exactly what I say it is. Nothing more and nothing less." This is despite the claims of a very large number of consultants, who all mount persuasive arguments for their approach to brand equity.

While the desire to understand equity, in terms of its financial impact on the organisation is understandable, there will always be an air of unreality about how this figure is derived. This is because brands exist in the minds of consumers, which is why so much measurement of brands is based on attitudinal measures. Measures, which it …