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Brand equity is described as the value of having a well known brand name. It is the phrase used in the marketing industry. This helps the company expand its services or launch new products under a brand name. A brand which has positive equity alleviates some of the risks associated with a new product and the company may launch a product with a fair degree of assurance that the product will be successful. Customers tend to associate the positive experience that they have had with the brand with its new product. They would be more likely to prefer a new product launched with such a brand. A brand could also have negative brand equity. This happens when customers are willing to pay more for a generic product compared to the brand. In such a case launching a new product may not bring positive response from customers. In such cases, it is best to launch a new product under a new brand than a brand which people don’t trust. The causes for negative brand equity could be inferior quality or service, higher recall of products or a disaster that marred the company’s reputation. Those who use our services for brand equity assignment help have gained better understanding of the term and do better than their counter parts who are too trying to gain insight into brand equity. You could have it all. Just contact us. We are open for customers 24 X 7.
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Importance of brand equity
Brand equity is not just numbers for businesses to measure their progress; it also paves way for a business to grow. The key to making a business jump levels and reach a new height is to keep it simple. A few things to focus here are finding meaning in the brand, brand health and connecting with customers. If businesses know who their customers are, what do the customers need and how their business serves them; they can move ahead of others in the game. Their marketing team does this work for them. Those who wish to learn the ways of such marketing team need a much better understanding of brand equity. We know that such tasks can be daunting and time consuming. That’s why we have the best of people at brand equity assignment help to help you gain knowledge in short time.
Philip Kotler’s view on Brand Equity
Philip Kotler is regarded as the father of modern marketing. He is not just a revered educator but a figure that stands out among others. He believes that CEOs should pay attention to the movement of their brand equity. Brand equity is the average of certain factors taken in weighted fashion. These factors help one truly gauge brand equity. These factors could vary depending upon type of business but there are a few universal factors. They are preference, interest, momentum etc. Brand equity increases when a product is more preferred by customers or the interest of general public has increased toward it or a product has gained momentum in the market. A successful business keeps track of its brand equity and takes measures to improve it. At brand equity assignment help, you would be able to learn more about such factors that influence brand equity and appreciate the thoughts of various marketing gurus.
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