Academic Paper from the year 2018 in the subject Communications - Public Relations, Advertising, Marketing, Social Media, grade: 4.0, Iqra University, course: Thesis 1 & 2, language: English, abstract: Customer equity, this notion was first introduced by in which they argued that the companies and organizations should considered customers as their any other financial asset and like other financial assets they should also be measured and maximized by the management. Later came up with the study on the same topic in more deeper perspective and states the definition of customer equity by uttering that, it is life time values which are discounted of the customers who belongs directly with the company and it is an outline which represents the main business of the firm that is their key business, which separates the identity of the company from others to its customers. The customer equity drivers or retention equity drivers are consist of value, brand and relationship equity. These customers¿ equity drivers be contingent upon, customer¿s perception and attitude the brand. In terms of Value equity the customer¿s perceptions and attitude represents the rational and unbiased situation of the service or a product, which is mainly grounded upon the perception and attitude of the customers towards price of the product or service, its quality and luxury that the customer can enjoy in the market availability of product and service. In terms of Brand equity the situation is other way around, brand equity shows the, personal as well as immaterial point of view of the customer and their attitude towards the available product and service in the market. The inner feeling and attitudes of the customer towards the company¿s product or service are insubstantial, the brand equity shows the sensitive attachment of customer with the product or service and irrational situation of the market availability which associates the customer with the brand or position of the market. As discussed fact that the inner concept of customer towards brand or service, attitude and behavior are personal and insubstantial, the brand equity of the product or service inclines to illustrate the sensitive and neutral characteristics, through which customer makes his association or relationship with the brand or market, however this relationship can be influenced by the life experience of the customer and with the memories that customer have with in his mind about the brand.
