In the context of Branding Strategy and building Strong Brands: Define brand equity and discuss the major...

70.2K

Verified Solution

Question

General Management

In the context of Branding Strategy and building StrongBrands:
Define brand equity and discuss the major brand strategydecisions. Give examples for each element and includediagram(s)
(600 Words)

Answer & Explanation Solved by verified expert

3.7 Ratings (489 Votes)

Brand Equity refers to a marketing term that describes the brands value There can be two types of brand equity positive and negative brand equity If consumers are liking that brand and have a great experience with it then it has positive brand equity and If consumers are disappointed with their service or quality and not liking their products at all it is known as negative brand equity Major brand strategy decision are as follows 1 Brand Positioning A brand must be positioned in the consumers mind This can be done on the following basis a On the basis of product attributes such as colours new design and etc This is the least desirable level for brand positioning as other competitors See Answer

Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:

Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!

Become a Member