Nowadays, companies have entered the age of brand competition, and branding has become an important mechanism for corporate restructuring and resource reconfiguration. American advertising research expert Riley Wright has a famous saying: Having a market will be more important than owning a factory. The only way to have a market is to have a brand that dominates the market.
So, what is the meaning of the brand? According to Ogilvy & Mather's view, the brand is the “relationship between the consumer and the productâ€. It further explains that the brand is just like traveling by train. It is the product that arrives at the platform and arrives at the terminal station. It is a complete brand.
Right now, almost no company does not dictate to pay attention to brands, but we can not deny that many companies are under pressure from competition. They often use marketing strategies to solve the reality of market problems, cut prices and promotions, and virtually guide consumers to use price as their purchase benchmark. The rapid weakening of brand loyalty, the value of the brand is no longer in the continuous promotion.
Searching for brand trajectories and strengthening brand asset management are important topics before the marketing interface.
From the point of view of corporate management, brand equity is a series of property, including brand awareness, brand loyalty, brand quality, brand association, etc. These are all linked with brand names and their logos. That is, brand equity is an external value that surpasses all tangible assets such as production and commodities.
American brand research expert David Aik’s brand equity star framing is a representative of Western brand theory. Its composition is: brand loyalty, brand awareness, brand awareness, brand association, brand other assets (patents, trademarks, brand relationships).
The so-called brand loyalty is a kind of behavioral process. It is also a kind of psychological (decision making and evaluation) process. It is a kind of purchasing decision-making unit. Behavioral response. Brand loyalty is the core of brand equity. It consists of five levels: no brand loyalty, habitual purchaser, satisfied purchaser, emotional purchaser, committed purchaser.
The theory of brand loyalty marketing believes that we usually treat brands as assets, but in fact the real asset is brand loyalty. Without the loyalty of brand consumers, a brand is just a trademark with almost no value or a symbol for identification. From the viewpoint of brand loyalty marketing, sales is not the ultimate goal of marketing. It is just the beginning of establishing lasting and beneficial brand relationships with consumers, and it is also an opportunity to build brand loyalty and transform brand buyers into brand loyalty.
The so-called brand awareness refers to the extent to which a consumer thinks of a certain type of product. The degree to which a brand can be remembered or recognized in the mind is divided into four levels from low to high: no visibility, prompting of awareness, no notice of popularity, One mentions popularity. Brand awareness is the second most important part of brand equity, and it is even more important in low-interest goods. It is positively related to sales.
The so-called brand awareness refers to the overall impression of a certain brand on the quality of consumers. Its connotations include: function, characteristics, reliability, durability, service, high-quality appearance. It is the basis for brand differentiation, high price, and brand extension.
The so-called brand association refers to all the associations created through the brand. These associations often combine some meanings to form a brand image. It is the result of communication through unique point of sale (USP) communications and brand positioning. It provides the reason for the purchase and the basis for the brand extension.
The brand star map can help marketers understand the brand thinking framework and analyze the influence of multiple brands on marketing.
The process of consumers accepting a product or brand can be roughly divided into three stages: cognitive stage, emotional stage, and behavioral stage. According to different communication perspectives, there are at least four different modes. The logic of exploring the process of consumer acceptance is precisely the logic of creating a brand.
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