Brand equity is the added value element of your brand. I often refer to as “emotional margin”. It’s frequently measured as the gap between the price your brand can command through its very presence compared with how consumers value non-branded products in your category.
Want to raid a few brand loyalists from the competition? Here’s how. Focus on the similarities between your product and theirs. If you want to keep your fans loyal, focus on how you are different.
A couple of conversations this week served as a reminder that not all senior leaders regard brands as something they should be involved with. If you’re struggling to get your senior team to put important brand matters on the executive agenda, here’s some reminders by way of making the case for greater consideration.
And after that gentle title, Simon Silvester launches into:
Much is made of the idea that your brand is what people say about you when you are not in the room. However, brands are defined by more than reputation and stories are told and spread by more than just consumers.
