A brand is an intangible asset that contributes to a firm's sales, market share, and profits by influencing consumer purchase choice behavior. This study aims to provide methods and procedures for measuring the value of brands as intangible assets. Using conjoint analysis with full profile stimuli cards, this study proposed a process and method for measuring brand equity through consumer surveys targeting four domestic canned red tea brands. The hypothesis testing regarding the relationship between the part-worth of brand attributes and market share revealed that the relationship between part-worth and market share may differ depending on the product life cycle stage. This study considered interaction effects in measuring brand equity. As a result, brand equity measured when interaction effects were considered was higher than when they were not. This implies that to accurately measure brand equity, the interaction effects between brands and product attributes must be taken into account. This study presents a customer-oriented brand equity measurement method for effective brand equity management by firms.