The set of assets and liabilities linked to a brand that add to or subtract from the value provided by the product or service is referred to as

The set of assets and liabilities linked to  brand that add to or subtract from the value provided by the product or service is referred to as Brand Equity.

Explanation:

Brand Equity is the buzz word  in the modern business and commercial world. It is the perceived and apparent value of  brand name which can be the total worth of the organization. It is that value of the organisation that pulls consumers and customer as well as client base towards it.

Brand Equity in other  words means the sum total worth or value added to an existing product under the same brand name. It can be done in multifarious ways such as putting up distinct logo for the product, easily recognizable and understandable names, adding more distinct titles and enhancing the durability of the product - all these contributes in a big way to add valuable and precious value to the existing brand.

Once measures such as above are taken to add distinct value to the brand the turnover and sales of the product subsequently increases since people get to know and recognize the product. Therefore, in order to develop  sold brand one has to focus on brand equity by other measures such as creating awareness  and developing loyalty for the product by the consumers.