Why Is Brand Value Important?

Brand value means any amount the consumer is willing to pay over and above the actual value of product. The premium that consumers are willing to pay for a brand’s products can be referred to as brand value.
Brand value is important for the following reasons:
1. A high values, builds company’s reputations in the eyes of the customers.
2. It enables the company to position their brand accurately.
3. An increased brand value, usually attracts more customers.