Key considerations for brand equity

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Key considerations for brand equity

Tweet Have you ever paused to consider why your customers choose your products over the closest competitor? If you really think about it, what sets your products apart?

In an effort to organize these factors, it would be appropriate to create two distinct categories. There are product factors and non-product factors. Then you have non-product factors. Specifically, there are five non-product factors that commonly come into play. From a business perspective, you need to consider these as much as you do the product factors.

The way the brand name sounds and the images it evokes both impact the purchase decision. Using the mop example, would you be more likely to purchase a mop sold by the brand name Pure and Clean Solutions or Products Ltd.

The first evokes strong imagery, while the latter is boring and non-descriptive — most would choose the first. Product Placement In physical retail environments, product placement is hugely important. This has nothing to do with the product itself, but is totally related to location.

For ecommerce businesses, product placement looks a little different. With that being said, you should spend a considerable amount of time and effort perfecting packaging if you want to grab attention and positively influence purchase decisions.

According to Yasushi Kusume, the innovation and creative manager for IKEA and other leading brands, product packaging must do three things. Second, it should encourage a purchase by conveying a unique and relevant value proposition.

Reputation In an age where social media is king, word of mouth marketing is the key to promoting and maintaining a positive reputation.

What your current customers are saying about you will either help you sell more — or drive away business. People will look at your product, recall what others have said, and choose you over the competition.

In many cases, a positive reputation can even offset deficiencies in other areas. Pricing The fifth non-product factor that buyers consider is pricing.

Brand equity - Wikipedia

The challenge here is determining just how price sensitive your target market is. In some industries, price is the number one non-product factor. In others, it plays a very minimal role. For example, a customer buying a mop may be very price sensitive.

If you really want to influence purchase decisions, you need to look at the big picture and consider both product and non-product factors.Alantra Private Equity pioneered and today leads the Spanish and Portuguese private equity track record in the mid-market segment dates back 25 years.

Sep 17,  · Hedge Funds & Private Equity Impact Partners BrandVoice Investing Markets 6 Key Considerations When Deploying Conversational AI. and you will build a brand .

The Importance of Brand Equity. Brand equity is a critical asset for any organisation. And whether or not you’re aware of it, it has a significant impact upon your bottom line.

So it’s well.

How Should Brand Equity & Brand Value Be Measured?

Brand Name. The brand name is huge – and we’re not just talking about brand equity.

Key considerations for brand equity

The way the brand name sounds and the images it . Epoxy Technology is a leading manufacturer of specialty adhesives for use in advanced technology applications. The worlds' most important companies in the electronics, medical device, semiconductor and fiber optics industries rely on Epoxy Technology's products for their superior quality and performance.

Building a strong brand, according to the Customer-Based Brand Equity model, can be thought of in terms of a sequence of steps, in which each step is contingent .

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