Just a little experiment, enough to see the power of the brand. In fact, there is little difference between the product itself, the difference is the consumer brand preference and brand to consumers of different benefits.
Coca-Cola's former chairman, Robert United States. Shipu. Woodruff said: as long as the "Coca Cola" the brand, even one day, reduced to ashes in the fire, then the next morning, the news media business headlines is the major banks scrambling to "Coca-Cola" company loans. Robert. Shipu. Woodruff's rhetoric is by no means self-important, because the bank's borrowers are not the fire in a pile of ruins, but "Coke" brand, the strong brand of intangible assets over the sum of all the tangible assets.
From the above examples we can see that the brand is an asset. Brand equity (Brand Equity), also known as brand equity, is only the brand's market efficiency can produce, or products in a brand with no brand difference between the market efficiency.
Brand equity (Brand Equity) is the brand, brand name and logo linked to increase or decrease the company sold products or services value to a series of assets and liabilities. It includes five aspects, namely brand loyalty, brand awareness, perceived brand quality, brand association, and other proprietary asset (such as trademarks, patents, channel relationships, etc.), these assets through a variety of ways consumers and businesses to provide value.
Brand equity is an important asset, is to save business cost effective means of marketing activities, but also to enhance the source of premium enterprise products, is a magic weapon to achieve competitive advantage. Enhance the value of brand equity, brand reputation can contribute to the value of overflow, to promote the expansion of brand equity can be an effective barrier to prevent the entry of competitors. So, how to enhance the brand's equity value? Specifically, from the following aspects:
1, increase brand equity value of differentiation
The key brand value of the assets reflected in differentiated competitive advantage. This advantage can be reflected in product quality, performance, specifications, packaging, design, style of work brought about the performance, durability, reliability, convenience and other differences; also be reflected in the services brought by the brand added Jiazhi such as rapid response services, service technology accuracy, comprehensiveness of services, service personnel affinity; third may show personality in shaping the brand association and brand association can influence customer buying psychology, attitudes and purchasing motivation. Therefore, to enhance the customer's perceived brand value, in turn, can promote the brand value. Enterprises can combine the advantages of its own brand personality, positioning through personalized to enhance the value of brand equity. This can be achieved in different ways: for example, technology leadership, product differentiation and market-specific technology, etc.
2, "powerful" joint
Brand value can also join forces with other brands to expand their brand image quickly to create more added value. Large enterprises tend to be good at world-renowned in their respective industries to use its strong brand appeal and market advantages, and other industry leaders to "Stronger" to join hands to strengthen their brand image. This combination is often based on cooperation and win-win two or more parties of the brand, and therefore easy to get from the partners and the market's positive response.
Starbucks as a "fast food coffee," the well-known brand with United Airlines to join hands, on the one hand to expand a new business areas to make their products cover a wider market space; the other hand, cooperation on this advantage, the two sides in their respective fields The brand value have been effectively improved. Facts have proved that many potential customers precisely because of the new initiatives for United Airlines, United Airlines became customers, and many of the Starbucks "champion" is also on the joint air and began to get to know love in this "Coffee Star" .
Another classic example comes from Intel, together with Microsoft to build the WINTEL empire brought them huge profits, as well as the most powerful brand image.