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Creating and Sustaining Brand Equity: A Comprehensive Guide to Building Strong Brands

Melvin Blair

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Published in The New Strategic Brand Management: Advanced Insights And Strategic Thinking (New Strategic Brand Management: Creating Sustaining Brand Equity)

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The New Strategic Brand Management: Advanced Insights and Strategic Thinking (New Strategic Brand Management: Creating & Sustaining Brand Equity)

by Jean-Noël Kapferer

4.4 out of 5

Language	:	English
File size	:	4846 KB
Text-to-Speech	:	Enabled
Screen Reader	:	Supported
Enhanced typesetting	:	Enabled
Word Wise	:	Enabled
Print length	:	1105 pages

In the competitive world of business, building a strong brand is essential for any company that wants to succeed. Brand equity is a measure of the value of a brand, and it is a key factor in determining a company's success. A strong brand equity can help a company increase sales, attract new customers, and charge higher prices for its products or services.

There are many different ways to build brand equity, but some of the most effective include:

Creating a strong brand identity. A brand identity is the way that a company presents itself to the world. It includes the company's name, logo, tagline, and other visual elements. A strong brand identity can help a company stand out from the competition and create a lasting impression on customers.
Delivering a consistent brand experience. A consistent brand experience is one that is the same across all of a company's touchpoints, including its website, social media, advertising, and customer service. A consistent brand experience can help to build trust with customers and make them more likely to become loyal to the brand.
Building relationships with customers. Building relationships with customers is essential for creating brand equity. A company can build relationships with customers by providing excellent customer service, responding to customer feedback, and creating a community around the brand.
Creating positive word-of-mouth. Positive word-of-mouth is one of the most powerful ways to build brand equity. A company can generate positive word-of-mouth by creating a great product or service, delivering excellent customer service, and encouraging customers to share their positive experiences with others.

Sustaining brand equity is just as important as creating it. There are a few key things that a company can do to sustain brand equity, including:

Investing in the brand. A company needs to continue to invest in its brand in order to sustain brand equity. This includes investing in marketing, advertising, and customer service.
Monitoring the brand. A company needs to monitor its brand to make sure that it is still meeting the needs of customers. This includes tracking brand awareness, brand perception, and brand equity.
Adapting the brand. A company needs to adapt its brand to the changing needs of the market. This includes updating the brand's identity, messaging, and products or services.

By following these tips, a company can create and sustain brand equity that will help it to succeed in the long run. Brand equity is a valuable asset, and it is one that should be carefully managed.

The Benefits of Creating Strong Brand Equity

There are many benefits to creating strong brand equity, including:

Increased sales. A strong brand equity can help a company increase sales by making it more likely that customers will choose its products or services over those of its competitors.
Higher prices. A company with a strong brand equity can charge higher prices for its products or services because customers are willing to pay more for a product or service that they trust.
Greater customer loyalty. A strong brand equity can help to create greater customer loyalty. Customers are more likely to be loyal to a brand that they trust and that they have a positive relationship with.
Improved employee morale. A strong brand equity can improve employee morale by making employees feel proud to work for a company that is respected and admired by customers.

Creating and sustaining brand equity is a long-term process, but it is one that is well worth the effort. By following the tips in this article, you can build a strong brand equity that will help your company to succeed in the long run.

The New Strategic Brand Management: Advanced Insights and Strategic Thinking (New Strategic Brand Management: Creating & Sustaining Brand Equity)

by Jean-Noël Kapferer

4.4 out of 5