Brand Equity and Brand Loyalty

Consumer-based brand equity goes far beyond just the trigger communication. It comprises the long-term market benefits for the company from customer satisfaction and brand loyalty, caused by positive brand imprinting of customers. The latter is achieved through the net effect of a brand-conscious marketing strategy, product/service usage and word-of-mouth effects. Advertising is but one part of the whole process.

From the consumer perspective, the three fundamental building blocks for building brand equity are a) brand/name awareness, b) perceived product quality image, and c) perceived "extended brand image".

Awareness is necessary as a base for good brand management, because without awareness, the two - holistically perceived - image components can otherwise not be "hooked in". As a cardinal rule, it is important that both the perceived product/service quality image and the perceived extended images are distinctive - and synergistic! A not very distinctive commodity-quality-like product (or service) is difficult to brand. A brilliant luxury-quality product with a weak "extended image" is equally difficult to market.

Posted in . Bookmark the permalink. RSS feed for this post.

2 Responses to Brand Equity and Brand Loyalty

Un produs Blogger.

Search

Swedish Greys - a WordPress theme from Nordic Themepark. Converted by LiteThemes.com.