A conceptual model of brand equity from the perspective of the individual consumer is presented. Customer-based brand equity is defined as the differential effect that knowledge about the brand has on consumer response to marketing activity for the brand. A brand is said to have positive (negative) customer-based brand equity when consumers react more (less) favorably to marketing mix activity for the brand as compared to when the same marketing activity is attributed to a hypothetical or unnamed version of the product or service. Brand knowledge is conceptualized according to an associative network memory model in terms of two components: Brand awareness and brand image (Le., a set of brand associations). Customer- based brand equity occurs when the consumer is familiar with the brand and holds some favorable, strong, and unique brand associations in memory. Issues in building, managing, and measuring customer-based brand equity am discussed. The paper also presents managerial implications and areas where future research is needed.