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Brand Equity Is
Continuing the previous explanation, brand equity is a premium value generated by a company from a product by providing a name that is easy to recognize compared to other similar products. The aim is to make the products and/or services offered easy to remember, easy to recognize, and also superior to similar competitors.
Simply put, term that describes the value of a brand
Of course this value is generated from the customer’s perception and experience of the brand. That is, if customers think highly of a brand, then the brand has positive brand equity. And vice versa.
By understanding the concept, brand equity Canadian CFO Email Lists is an easy tool to help you fulfill the competitive potential of your business. Nevertheless, to build a brand equity is not an easy thing. Before your business brand manages to get a premium value, how far will people recognize your brand? To what extent is the customer journey and customer experience felt by customers?
There are many stages and strategies that you
have to do before you really succeed in building brand equity. Let’s look at the further explanation below.
How Important is Brand Equity for Your Business?
Brand equity is one of the most important things to consider for your business. There are many reasons that can be the basic foundation of why brand equity is important. That is:
Brand Equity Is Customer Loyalty
This can happen because customers prefer DZB Directory your brand compared to others. Even if you offer a higher price, if customers already trust and get a good customer experience from your business, they will continue to make repeat purchases. Because there is added value that they get every time they do business with your brand.