Brand equity can be enhanced by the following:
1. COMMUNICATION WITH THE CONSUMERS
Being genuine in the interaction of the brand with their loyal
customers as well as the potential customer present in the market.
A brand, which is genuine s more relatable by their prospective
consumers and therefore increases equity. It, therefore, refers to
the communication aspect of brands, especially with their
customers. It can make use of both online and offline mediums.
2. SOCIALLY RESPONSIBLE BRAND
A socially responsible and ethical brand always appears to be more
perspective to a customer. Therefore a brand should revisit their
processes and try and select the best possible outcome possible for
them to make better use of their skills and capabilities.,
3. EMOTIONAL CAPITAL
A brand that can involve an emotional response in the mind of their
customer can essentially utilize imagery and their brand value in
order to improve their standing as far as equity is considered.
Emotional capital is built with consumer response, word of mouth
advertising as well as committing to their customers in order for
them to convert to loyal and stay that way.
Which is not one of the three major steps in implementing a brand equity management system? Create brand charters Conduct tracking studies Assemble brand equity reports Define brand equity responsibilities
**PRINCIPLES OF MARKETING** Brand equity means that a brand enjoys customer loyalty, perceived quality, and brand-name awareness. Question 1: Define the terms (1) brand equity and (2) brand loyalty. Question 2: To what brands are you personally loyal (name 3)? Question 3: What is it about the product (for each of the 3 brands you are loyal to) that creates brand loyalty, and, thus, brand equity?
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