What Are The Components Of Brand Equity?
What Are The Components Of Brand Equity?
Share
Sign Up to our social questions and Answers Engine to ask questions, answer people's questions, and connect with other people.
Login to our social questions & Answers Engine to ask questions answer people's questions & connect with other people.
Lost your password? Please enter your email address. You will receive a link and will create a new password via email.
Amruta
Following are the components on which brand equity is dependent:
1. Brand awareness: It is the first step in building brand equity. The customers should be aware of your brand presence.
2. Brand associations: It plays an important role in repeat sale and word of mouth marketing.
3. Perceived quality: Brands perceived quality affects its positioning and pricing decisions which in turn affect the brand equity.
4. Brand experience: A superior experience with brand results in satisfied customer. Satisfied customers prefer a brand over others hence affecting the brand equity.
5. Brand loyalty: Brand loyalty plays a key role in repetitive purchase of products and word of mouth marketing.