A brand's equity can be defined as its value, sometimes quantifiable, based on positive and negative perceptions of attributes such as quality, relevance and influence.
Some of most the valuable brands are recognized globally. Coca-Cola's 2004 brand value was placed at $67.4 billion and McDonald's at $25.0 billion, according to the August 2, 2004 issue of Business Week. And, companies that own such brands spend billions of dollars managing their image. Legions of marketers shepherd PR efforts such as sponsored events and advertising programs, using celebrity spokespeople and sales information to enhance a brand's image in customers' minds.