Branding And Reflection: My Voice: Brand Equity

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My Voice: Brand Equity

Branding is an effort on the part of the manufacturer(s), marketer(s), to create a distinctively unique image about their market offering(s) in the heart and mind of the consumer(s) through delivering value, utilizing marketing promotion and various brand building initiatives. Truly brands resides in the hearts of the consumer(s), and the consumer(s) brand awareness, brand preference and brand loyalty determines the fate of the brand. Brand equity measures the goodwill of the brand in the market and the level of consumer brand preference and consumer brand loyalty. Consumer(s) brand loyalty is highest, when the consumer(s) demands their favored brand, refuses to buy any other brand and are willing to put in an extra …show more content…

Customer values the brand and sees it as a friend.
5. Customer is devoted to the brand.
Brand Equity is highly related to how many customers are satisfied and would incur costs by changing brand, customer values the brand and sees it as a friend, and customer is devoted to the brand. According to Aaker, it is also related to the degree of brand-name recognition, perceived brand quality, strong mental and emotional associations, and other assets such as patents, trademarks and channel relationships.
Business week’s ranking of the world’s 25 most valuable brands in 2005 based on Interbrand’s brand valuation methodology reveals following brands as the strongest, most highly regarded: Coca-Cola, Microsoft, IBM, GE, Intel, Disney, Toyota, Mercedes, Hewlett-Packard and Gillette to mention a few. According to research by marketing consultant Jack Trout, in 25 popular product categories, 20 of the leading brands in 1923 are still leading brands today, to mention a few, Hershey’s, Gillette, Coca-Cola, Campbell’s, Colgate etc.
The 10 most valuable brands in the world are: Google, Apple, Microsoft, AT&T, Facebook, Visa, Amazon, Verizon, McDonald’s, and IBM. (According to brand consultancy Millward Brown 's annual BrandZ …show more content…

In today’s highly competitive global markets, the concept of brand equity holds a lot of significance, for the business survival and business

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