Brand equity is known for the value that marketing can attribute to a given brand and the strength that it can have in the market in which it participates.
This value corresponds to the assets of a brand resulting from marketing actions since they develop branding strategies.
The objective should be to add value to the brand name and how it is recognized, considering the consumer’s perception and its positive and negative aspects.
How brand equity is made
Brand equity is made with the brand of the company and its products. Marketing efforts are made for the brand to gain market share.
The value of a brand is an intangible component evaluated according to the opinion of consumers. Having a well-known brand can boost a company’s sales.
This can be seen when a product with a known brand is placed next to a generic brand. The value attributed by consumers to the well-known brand, allows higher revenue.
The development of brand equity is done with actions that promote the brand in the market and make it known to the public.
Advertising actions, sample distribution or the promotion of partnerships are ways that can be used for this. Using the internet to make the brand known can be one of the best ways.
With these practices, in addition to making the product known, the public is able to understand what its qualities are and relate to the brand.
In addition, it is important to research the opinion of consumers of the product and understand what they think and how they relate to the brand.
Brand equity example
In the world there are different examples of companies that have strengthened their brand to increase their sales and sales.
One of the biggest examples is Apple, which has been operating in the technology market for years with the sale of products such as notebooks, tablets and smartphones.
The company seeks to differentiate its products to the maximum from its competitors and manages to obtain very high revenues every year.
All of this happens due to the way the public recognizes the brand, even if there are other products on the market with the same quality and utility for consumers.