How to Make Branding a Strategic Tool for The Company Part Two
How to Measure Brand Equity?
The company measures its brand equity through the consumer.
But it is through the perceptions developed by customers through the brand and purchasing behaviour that we will in fact determine whether the company has strong brand equity.
The consumer is considered to know the brand as soon as he has multiple, positive, unique representations of the brand in his memory (distinct representation from the competition and financially valued).
How to Conduct A Branding Policy?
A brand image alone is not enough. To exist, the company needs to establish itself in its market, for example, to promote their own company, they can issue out flyer printing. It must affirm its added value, be visible, known and recognized for its expertise, and develop its brand equity. To do so, the company will have to:
- Gather communities around its history, its experience (Company storytelling)
- Discuss with consumers who in turn will talk about their experience of the brand. By reflecting a positive image on the markets and in its socio-economic environment, the company is therefore naturally entering the lives of consumers.
The brand creates emotional and experiential value from the promises associated with the consumption of the product.
- Affirm its reputation and establish its presence in social media.
- Establish a relationship of trust with its customers, its targets, its audience (thus creating its e-reputation).
The company thus consolidates its position in the minds of the customer who becomes a prescriber of the brand.
By giving meaning to the elements that make up the brand, the company makes it sustainable. An essential point not to be overlooked, a brand image is built over the long term with patience and perseverance.