1.- What is brand equity? Discuss a brand that you think has garnered brand equi
ID: 414895 • Letter: 1
Question
1.- What is brand equity? Discuss a brand that you think has garnered brand equity and describe how this brand equity has been achieved. What is brand positioning? Describe a brand that you think illustrates a clear positioning strategy. Describe four different positioning strategies, using examples to illustrate. 2.. 3. Describe the elements that influence brand choices by consumers.- List the three stages of brand loyalty, giving examples of each stage to show the difference among the stages.. 4. 5. Identify the four steps in the brand building process and explain each step.. 6. Describe what makes a good package for a brand. Use an example to show a "good" package.Explanation / Answer
1: Brand equity: It is a positive index for any brand which creates value for the brand . It basically comes from customer satisfaction, revenue generated, reach of the brand and its acceptance.It creates more customer base and they become loyal to the brand.
eg: Lacoste ( clothing, footwear, perfume ) has such a kind of strong brand equity that the brand's premium price is both accepted and expected by customers.They feel satisfied on using the brand.
2:Brand positioning:Positioning refers to the stage of creating an impact on customer and tend them to buy the product. This results in creating a space in market for the brand and helps in reaching the product to the maximum extent as possible. One of the typical example of brand positoning is Apple product. They produce only product for elite customers ( high end electornic gadgets). They have positioned their product for a seperate target customers and market.
3:Elements that influences brand choices are
4:Brand loyalty stages
5:Brand budiling process
6: Package of brand is a cumulative activities or process involved which makes a brand a complete and unique one. This creates a differentiating element which unites together to enhance the reach of the brand. eg: Nestle as a brand has wide varities of consumer packaged goods ( food and beverage category). Thus their brand package is all about providing healthy and nutritious food to the customers through their brand which will be useful for their daily needs.
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