Brand Equity
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Brand Equity
The differential effect of brand knowledge on consumer response to the marketing of the brand.
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Major Brands That Support Gay Marriage [PHOTOS] - Business Insider

Major Brands That Support Gay Marriage [PHOTOS] - Business Insider | Brand Equity | Scoop.it
Brands from Bud Light to Martha Stewart Living riffed on the Human Rights Campaign red equal sign that has gone viral on Facebook. Although the image of Paula Deen riding the symbol — with the caption "It's like two sticks ...
Daniel Armstrong's insight:

In creating brand equity brands need to work on their brand personality, who they are as a brand, through their various marketing activities. With the popularity of social media sites like facebook and instagram, brands have been able to humanize themselves with conversations with their customers and with the uploads of pictures of the products or services they offer or just simply cool stuff the brand would like to relate itself with. Taking a stand on a divisive social issue is one way to create engagement and aid in the humanizing of your brand but it is one that can be taken on positively or negatively by consumers. If brands are to take a stand then they do need to research in what the majority of their consumers think of the issue by either posting something on their page about it through other external or intenal research, or otherwise have their response and crisis management startegy in place. I think whether or not a brand should take a stand on a divisive social issue depends on what the issue is.

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Kate Corkery's comment, April 7, 2013 6:48 PM
social media sites are forever growing and becoming more popular in todays society. brand equity and creating a strong brand personality through their marketing plans is important. social media allows brands to engage more with consumers and make them feel heard and wanted. Brands can also be connected through their consumers by posting images and statuses about things they support. this article shows how many different companies have stood up and shown their support for marriage equality. Images that go viral can make a difference whether it be taken positively or negatively.
Alina Oleinik's comment, April 7, 2013 7:36 PM
Social media makes it much easier for brands to directly interact with their customers. Well recognised brands can use their power to stand up for a social cause, risking losing some of their customers but also creating the chance to gain new ones. Contemporary issues, such as marriage equality, affect many people around the world, so when a brand chooses to support it, it sends a big statement.
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'Who' Your Business Is Now Matters More Than What You Sell - Huffington Post

'Who' Your Business Is Now Matters More Than What You Sell - Huffington Post | Brand Equity | Scoop.it
'Who' Your Business Is Now Matters More Than What You Sell
Huffington Post
The next question is 'who determines your brand?' if this is now the most important element of building a business?
Daniel Armstrong's insight:

Who you are as a brand is more important that ever! This is because of the amount of competition we have nowadays. Just like the example this article gives with donuts, you can go to a couple other places which are within walking distance to get a donut but the one you go to is the one that you enjoy. Not only enjoying the donuts but the customer service and who the brand is themselves. Maybe a quirky character or a neat box or style of donuts, everything the brand has to offer is what it is getting judged by, it is no longer just the product customers are judging because im sure most if not all the donuts you get from the various donut stores will taste good! 

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Alina Oleinik's comment, March 20, 2013 10:16 PM
Just as Daniel said, there are now high quantities of businesses which provide the same or very similar products and services. Due to advanced technology and the Internet, people can find out how to duplicate almost anything, meaning that creating a strong brand identity has never been more important. Businesses need to create a point of difference - whether it's a capturing name, outstanding service, or competitive prices, companies must have specific qualities which make up their brand image and make it stand out from the rest.
Kate Corkery's comment, March 21, 2013 11:04 PM
brand image and a customers experience is important. Value for money is always a good thing in the consumers eyes. they want a good experience from a brand they know. technology has made it easy for different brand to copy and market in the same way. this means that making the brand memorable is important; even if it it just a quirky box. this makes consumers remember your brand and want to come back. retaining customers is hard in todays society, so brand management is more important that ever!
Irena Yurovsky's curator insight, March 25, 2014 4:41 AM

A good question I found to ask yourself while reading this article was - Why do you pick a certain business (Ms Higgins cookies) over any other?

There are literally hundreds of bakeries and cookie stores that sell the same thing yet I only buy mine from Ms Higgins. 

An image of a business is more important than what they sell! This is a fairly new concept as commonly thought that what a business sells or does is what was important. My choice of Ms Higgins cookies comes from the image they project - that the cookies are baked just like your nana makes them; home-made overall I choose them for their brand. This article clearly answered who determines your brand. The control of brand equity has started to  shift to the hands of consumers who have access to social media tools to tell people who they think you as a business are. However, the business still controls how they deliver the promises they make to customers. In the constantly developing world of technology and the increasing number of people who are connecting to the online world of internet it is becoming very difficult to differentiate their business - online or 'on the street'. Any information you need can be found by simply googling it and hundreds of articles will be at your disposal. It does put pressure on businesses trying to stand out to customers. 

Things do become easier for businesses as the 'what you sell' now MATTERS LESS but the IMAGE you project of the product or service will "win or lose your business".