Increase Brand Value - Brand Equity
What is brand value or brand equity?
We collect definitions, because it's fascinating, because it's an opprtunity to learn from other thinkers and practioners.
And then, whilst standing on the shoulders of others and peering as far as we can into the future, give our own contribution:-
"Brand Value (or Brand Equty) is the extra price a customer pays for the percieved increased pleasure or reassurance given by a badged product over a similar unbadged product."
The critical words here are "perceived", because it is their perception and their perception of how friends may think that determines the value.
And the words "given" - because the brand should "give" - it is not a passive endevour - it is an active, emotional engagement. For a brand to sustain it has to give.
A strong identity demands continuous evaluation and revamping to keep it up to date thereby increasing its value over time. If any company is able to increase its brand value, the company will profit.
We can help you increase your market share, to find out how, contact us today to arrange an informal chat.