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Building brand equity and refining your marketing mixFrom: Understanding Brand Equity The core of our philosophy toward building brand equity lies in determining what combination of marketing actions will most effectively and efficiently drive brand assets (while minimizing liabilities) for a specific brand at any given moment in its life cycle. Since every brand and every situation is unique, each will require its own distinct combination of drivers. Should you consciously and deliberately make upmarket brand equity your primary goal, by employing the right combination of drivers including distribution, pricing and like branding strategies in support of that goal, you will achieve stronger, lasting and more profitable relationships between your brand and its existing and new consumers, in turn selling more stuff to more people. You will indeed build brand equity…and that is the bottom line. |