How to Build Brand Equity
How to build brand equity
Contents
I. Introduction
II. What is brand equity?
• Definition: Brand equity
• Sources of brand equity
• Positive brand equity vs. negative brand equity
III. Creating brand equity
• Brand position
• How to create brand equity? - Selecting brand elements - Integrating with marketing activities - Creating secondary brand associations
IV. Summary and Conclusion
V. References
Introduction
In modern society, brands play an increasing vital role in marketing. With the fury market competition and the increasing homogeneity of products , brands act as a powerful strategic weapon to win in the market competition. At the same time, brand equity, as one of the most valuable intangible asset, has become a more and more heated topic.
Before broaching brand equity, we should have a clear understanding of brands. The evidences of the importance of brands have plenty. A strong brand not only brings a good reputation to a company but also boosts market shares and sales revenue.The identity of a brand can be a particular product, service or business(Aaker, 1991). A brand connects a series of mental associations with a product or service.,which gains the perceived value. There are many kinds of forms on brand, comprising name, design, slogan, signature and so forth. The aim of a brand is to be different from other competitors in the marketplace.
A strong brand is the most valuable assets of an organization. If the brand is well accepted in customers ' mind, it means this brand can gain great value. As an intangible asset, brand equity has taken up the more and more proportions of the total assets. Brand equity started from 1980s and rapidly became one of the focus problems of marketing strategy. In this essay, we untangle and review several significant definitions about brand equity. More importantly, how to create brand equity will be paid more attention. At the same time, a number of
Contents
I. Introduction
II. What is brand equity?
• Definition: Brand equity
• Sources of brand equity
• Positive brand equity vs. negative brand equity
III. Creating brand equity
• Brand position
• How to create brand equity? - Selecting brand elements - Integrating with marketing activities - Creating secondary brand associations
IV. Summary and Conclusion
V. References
Introduction
In modern society, brands play an increasing vital role in marketing. With the fury market competition and the increasing homogeneity of products , brands act as a powerful strategic weapon to win in the market competition. At the same time, brand equity, as one of the most valuable intangible asset, has become a more and more heated topic.
Before broaching brand equity, we should have a clear understanding of brands. The evidences of the importance of brands have plenty. A strong brand not only brings a good reputation to a company but also boosts market shares and sales revenue.The identity of a brand can be a particular product, service or business(Aaker, 1991). A brand connects a series of mental associations with a product or service.,which gains the perceived value. There are many kinds of forms on brand, comprising name, design, slogan, signature and so forth. The aim of a brand is to be different from other competitors in the marketplace.
A strong brand is the most valuable assets of an organization. If the brand is well accepted in customers ' mind, it means this brand can gain great value. As an intangible asset, brand equity has taken up the more and more proportions of the total assets. Brand equity started from 1980s and rapidly became one of the focus problems of marketing strategy. In this essay, we untangle and review several significant definitions about brand equity. More importantly, how to create brand equity will be paid more attention. At the same time, a number of
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