The brand equity adds to the value assigned to a product or service by an organization. It provides mean to the financial value of the brand asset, generates the consumer loyalty or price premium, offers permission and flexibility to the brand for extension and customization into the new product and the service categories. Consequently, the managers, today, are highly eager to manage the brands. All the factors that contribute to the brand equity in the market are the focal point for the academics and the investors alike. The study investigates two basic marketing tools, namely the advertisement and the price deals as the antecedents of the brand equity. It aims at determining the extent of effect of advertisement and price promotion on the brand equity. On the other hand all well accepted dimensions of the brand equity, like the brand awareness, the brand attitude, the brand loyalty, the perceived brand quality and the brand image, their interrelation and the impact of these tools also is investigated in the broad scenario of the FMCG sector here.