AN INTRODUCTORY FACTOR TO BRAND EQUITY

“HEY PEOPLE, STOP! STEP IN, AMAZING WAYS TO UNDERSTAND BRAND EQUITY”

written by VIGNESHWAR JAYARAMAN

what makes customer or consumer to recognize a brand or a product in the market. Absolutely yes, the advertising and promotions as a part of IMC campaigns to make consumers get familiar with the brand, brand valuation and brand equity which is referred to as the intangiable marketing. So, before getting into IMCs and digital marketing techniques, let’s go through the pages and grasp what does the Brand Equity means.

BRAND EQUITY

Let us get into the concept of Brand equity. Okay what is brand equity? Formally lets look for the definition,

DEFINITION: The equity of the brand or the communication of the brand can be conveyed through LOGOS, SOUNDS, COLOURS and IMAGES etc. The main objective of the brand is to CREATE VALUE for the consumers, BUILD STRONG RELATIONSHIP with the consumers and to CAPTURE VALUE which is known as “Brand Equity”

So we had a look at the definition, though folks what is brand equity and brand valuation from the aspect of customer, how he/she looks a brand. According to customer, a brand is a representation of a product they look for. A step ahead, people look for the personal connect with the product or brand which is referred to as brand perception or feelings. Say like some people buy royal enfield bikes only for the engine sound, etc.

Now friends, we drive into a model developed by Dr. David Aaker to explain Brand Equity, IMG_20181013_123351

The model was given in the form of pyramind which indicates the equity to the Brand valuation from bottom to top in a fabulous way. this model also gives us an idea of the Brand equity and what does that meant to be both in the aspect of company and the customer. Let me explain the things for better understanding ,

AWARENESS

Introduction of a brand and the strategic message of the brand to the market by salient features. in simple words, the product or the Brand projects “who are they” to the market. EXAMPLE: Releasing depth and breadth of the products.

IDENTITY

The brand creates its identity to the market through some strategic messages by means of captions, Logos, images and Jingles. the way that makes customers to recognizing the brand. EXAMPLE: Airtel’s music making people to recognize the brand without seeing visuals.

BRAND IMAGERY

The abstract view of the brand in the market, in other ways the messages and equations that the brand projects to the market. Also indicates the customers view on the brand. EXAMPLE: Campaigns and promotions the brand uses to express themselves to the market.

PERFORMANCE

Okay, the brand has established themselves to the market. What does it do next, to extend its market existence. Fine, every brands exists, but what makes a brand to stand still in the market for years is the thing that indicates the performance of the brand. EXAMPLE: Customers confirms the brand through sampling, testing and brouchers etc.

BRAND PERCEPTION

The equity and valuation is what a brand utmost establish to the market to capture the value and retain the customers. people gets personal connect with the brand that would be the reason why they buy products or getting loyal to the brands. This perception is said to be the personal feeling they get towards the brand. EXAMPLE: Customers buy bikes or cars which would connect to them or match their personality, especially Bullets and Racing motors.

JUDGEMENT

The coagment of a product or a brand by the way it proceeds in the market, the core value it outputs to the customers and the way the brand carry their valuation to all the economic aspects. EXAMPLE: Performance of a particular brand in the market, say Apple.

RESONANCE or RELATIONSHIP

once the brand has been established in the market, the players are set to maintain the customers, loyalty and satisfactory level of the consumer. EXAMPLE: Prime brand like Maruti Suzuki adopts maintainence market plan to sustain.

And hence, the brand equity and brand valuation has an connect with the product life cycle say the development, introduction, growth, maturity and decline. Each part of brand equity pyramid potrays the each stages in the PLC.

IMG_20181013_162052

RATING THE PERFORMANCE

Companies and consumer uses a methodology to calculate, rate or measure The Brand Equity and Brand Valuation say by

UTILITARY method which indicates the utility of the product, MEDONIC method which say conveys messages in a sensory manner and the last is the ECONOMIC method which means the price consumers willing to pay.

Now, lets have a look at a scenario for the better understanding,

 

IMG_20181013_162131

In the above image, the listed products indicates the usage of the in a day, it is based on the brand perception of customers and also the way brands projected itself in the market. Here, T percepted to be only a breakfast drink whereas the C and P projected themselves to be all the drink, which means T has been consumed less during lunch and dinner.

HOW T’S PERCEPTION CAN BE CHANGED?

T can look for changing its perception by opting for an expansion of product line by bringing in different flavours and can be released changing the perception that it can also be consumed for lunch and dinner.

NOTE:

So folks, we had a look at what Brand Equity is and what values does a brand give to the customer. Following the introductory to  the brand equity, we will meet up next with the IMC introductions. Hope this content helps readers a lot, i am fully responsible for the contents written. leave your valuable comments and feed backs which would be rectified.

THANK YOU

The Journey Begins

Thanks for joining me!

The blog contains the IMC, digital and content marketing platforms for the industries and startups as a paid service.

The posts will deal with the step by step procedures to perform IMCs, digital marketing and content marketing as a part of INBOUND MARKETING and advertising and promotions.

The first post is getting ready, stay tuned for the updates. please support and follow. thank you.

Good company in a journey makes the way seem shorter. — Izaak Walton

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SOCIAL MEDIA MARKETING – AN INTRODUCTION

MANY A WAYS DIGITAL MEDIA PLATFORMS ARE OPENING UP FOR PROMOTIONS; WHICH IS THE MOST POWERFULL TOOL? OF COURSE IT IS SOCIAL MEDIA!!

WRITTEN BY Vigneshwar Jayaraman

NOTE – ALL THE PREMIUM CHANNELS OR PAGES ARE PAID ONE IN COMMON. EXAMPLES ARE PROVIDED IN THE PICTORIAL AND VIDEO FORMATS.

KEYWORDS:- DIGITAL PLATFORM, TRAFFIC, BUSINESS PAGE, REACH, IMPRESSION.

Digital marketing takes up the major responsibility on promotions of today’s marketing world; among those digital platforms, social media would play a vital role for all kind of products or services for that concern. Nowadays, social media has become most trafficed digital platform as all aged people are very much active and trends are being created. As days passes social media has also become a common platform for interaction between buyers and sellers intially. Let’s see the most effective business platforms of social media;

Linkedin

This would be the first option to strike our minds when we speak about professional social media platform. Here we are able to connect with highly designated people by justy single click. To be more precise, we can change our account to premium to connect with the high ranged business people. Start-ups can start a business page in linkedin to promote their brand were they also get opportunity to meet the right suppliers and consumers.

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Youtube

Most commonly preferred plarform to get high number of reach in a short span. No explanations are needed as people are floating to youtube platfroms and are able to witness or expierence the power of youtube channels and the hipe and reach they get inspite of putting valuable contents. Every brands will have a youtube channel to publish their values and beneftits. We can even earn money through monetizing to ads.

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Facebook

The most effective commercial platrform run a business page nowadays. We can create a facebook business page to display the values and benefits of our brand and as many people float to this platform; getting reach and impressions are much easier. The page and the posts can be pushed and promoted even by paying according to the reaches we expect.

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Instagram

Like facebook, instagram is also a very big commercial platform which also allows even our normal account to convert into a business account and promotions can be made (paid promotions). We have seen brands have pages in insta to display their products and provides us direct message option to enquire; which becomes easier for consumers to get the product informations and specifications by just one click.

Instagram-Business.png

A short video has been attached to get to know the benefits of having social media business pages;

Hence, these are the major social media platforms. Lot more platfroms would be discussed in the futrther posts. Please do post your valuable comments and feed backs which would be rectified in the upcoming posts.

                                                                  THANK YOU

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