What does 'brand equity' NOT include as one of its components?

Brand equity is a marketing concept that refers to the value a brand adds to a product or company. It consists of several key components that contribute to the overall perception, preference, and loyalty a consumer has towards a brand.

The components of brand equity typically include brand loyalty, brand awareness, and brand preference.

Brand loyalty reflects the degree to which customers consistently choose a particular brand over others, indicating a strong connection between the consumer and the brand. Brand awareness pertains to how familiar consumers are with a brand and its products. This familiarity often establishes a foundation of trust and leads to customer preference. Brand preference is the inclination of consumers to choose one brand over competing brands when given a choice.

In contrast, product pricing does not fall under the traditional components of brand equity. While pricing is an important factor in marketing strategy and can affect a brand's perceived value, it does not directly contribute to the brand's intrinsic equity. Pricing may fluctuate due to various market conditions or competitive strategies, but it does not inherently alter the consumer's attachment or perception of the brand itself. Thus, product pricing stands apart from the essential aspects that define brand equity.