Posted: May 25, 2019
Submitted by: https://www.24hourtranslation.com
Strategies for Building Strong Brand Equity
Did you ever think of brands as valuable assets that determine the financial strength of a business? If you are a brand manager, your charge is to produce value for the company and its investors. You should improve the brand’s value by developing and implementing strategies that promote the brand and increase brand equity.
Brand equity makes one brand more preferable than another competing brand. While opinions differ on the factors that influence brand equity, four commonly mentioned factors are innovation, exceptional customer experience, transparent values and strong market leadership. Companies with high brand equity include Apple, Microsoft and Google.
Businesses with strong brands consistently outperform the markets where they do business. As a company’s brand equity improves, it generally commands higher prices, profitability or market share relative to competitive products.
Original Post: Strategies for Building Strong Brand Equity