Higher Added Value
An interesting fact about brand equity is that customers are willing to pay more to buy products and/or services from a brand. In fact, it is not uncommon for several companies to set high prices. Did you know that a strong brand can give you a competitive advantage in the market? This is because customers tend to choose brands they are familiar with over new ones.
One more reason why brand equity is so important for your
business is to provide a positive reputation. In practice, businesses that have high and strong brand equity often get a positive reputation. This is because the price offered is comparable to the quality of the products and services provided. So that it can increase customer satisfaction.
Elements of Brand Equity Is
What you need to pay attention to about brand equity VP Financial Email Lists is that it develops and grows as a result of the customer experience with your brand. Of course, this process involves a relationship between you, the business owner, and loyal customers of the brand. There are several elements that must be considered in order to build brand equity. Includes:
Brand Awareness
Brand awareness in brand equity is the extent to which
the brand can be known or recognized by customers and many people. A business that has high brand equity will definitely come to mind when they want to search for related products and/or services.
Brand Loyalty
The second element of brand equity is brand loyalty or brand loyalty. Where customers believe in the value that is in the products and/or services of a DZB Directory particular brand. They will not hesitate to make repeat purchases and will not switch to other businesses.
Brand Image
Next is the brand image. Where this refers to the perceptions held by customers regarding the attributes of the brand. Includes product and/or service quality, reliability, uniqueness, and others.
