Importance of Brand Equity

All that brand equity means to businesses

 

According to the American Marketing Association, brand equity arises out of the consumer’s favorable perception of a brand.  It is based on the consumers’ attitudes about positive brand attributes and favorable consequences of brand use. Most importantly it is the value a brand provides to an organization. Consumers’ perception of the brand can be positive or negative. Depending on that brand equity can be low or high. However, the benefits that arise from brand equity can be both tangible and intangible. A high brand equity can provide some benefits that cannot be substituted. Since, brand equity is as valuable, it takes time to build it. It is because it takes time for any brand to affect the consumers’ perception and gain loyalty. Still, once a brand has earned positive equity, it can keep enjoying its benefits. However, brands should focus on sustaining it.

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How to conduct a SWOT analysis

What should I include in a SWOT analysis?

 

A SWOT analysis is ordinarily seen as an analysis of the strengths, weaknesses, opportunities and threats of  a business. It is also known as internal external analysis or TOWS analysis. Many times people are lost upon where to start from. One should start his research from the company or brand’s background to get a good understanding of what the business does. To know a brand’s strengths and opportunities, one should first understand its market position.

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