What are the 2 general approaches to making an assessment of equity?
1. Consumer level -- the difference in willingness to pay for a product when it possesses the brand name versus when it lacks a name (difficult to obtain accurate results)
2. Firm level -- the acquisition of another company reflects its tangible and intangible assets (including brand equity). The value of a well-positioned name will be greater in environments in which it is difficult to differentiate a new entry due to the levels of noise and competition in the market.