How is brand equity build, measured and managed?

The initial choices for the brand elements or identities making up the brands

The product and service and all accompanying marketing activities and supporting marketing programs

Other associations indirectly transferred to the brand by linking it to some other entity

Brand equity drivers-------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Creating brand equity by linking the brand to other information in memory that conveys meaning to consumers.

1. Choose the right moment.2. Link internal and external marketing.3. Bring the brand alive for employees.

The brand value chain-------------------------------------------------------------------------------------------------------------------------------------------------------------------------

The brand value chain is a structured approach to assessing the sources and outcomes of brand equity and the way marketing activities create brand value.

Brand audit-------------------------------------------------------------------------------------------------------------------------------------------------------------------------

A brand audit is a consumer focused series of procedures to assess the health of the brand, uncover its sources of equity and suggest ways to improve and leverage its equity.

STEPS TO CONDUCT DIGITAL AUDIT

Brand-TRACKING STUDIES-------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Collecting quantitative date from consumers over time to provide consistent, baseline information about how brands and marketing programs are performing.

Brand valuation-------------------------------------------------------------------------------------------------------------------------------------------------------------------------

It is concerned of estimating the total financial value of the brand.

Brand reinforcement-------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Brand equity is reinforced by marketing actions that consistently convey the meaning of the brands to consumers in terms of the product and superiority.

Brand revitalisation-------------------------------------------------------------------------------------------------------------------------------------------------------------------------

A strategy to recapture the lost sources of brand equity and identify and establish new sources of brand equity. This many include product modification or brand repositioning.

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