Learn how to strengthen your customers' perception of your brand.
Brand equity is about shaping how customers think and feel about your product. You want your customer to create positive perceptions thoughts and beliefs towards your brand. When you have created strong equity for your brand your customers will become loyal and will recommend you to other people.
There are four steps in Keller's Brand Equity Model
As part of the application to create brand equity first you need to identify your brand, make sure it stands out and that brand perceptions are correct. You need to have an understanding of your customers, what decision processes they go through and their needs, and you want to communicate to your customers that your brand can fulfill these needs.
Brand resonance is the most difficult level to reach. This is what a brand should be achieving for. You will know when you have achieved brand resonance when your consumer has a feel deep, psychological bond with your brand.
This means there are repeat purchases (loyalty), customers think of their purchase as being 'special', customers feel a sense of community with others who associate with the brand, and lastly customers are engaged with your brand even though they aren't currently purchasing it.
HR firm puts brand building on fast track Business Standard "Since we are only one-year old in India, people don't know much about us. To address this challenge, we need an effective brand building exercise.
A very inspiring article about how a Human Resource service provider seeks out to build their brand by doing a big advertising spend. Very uncommon for an HR service provider to be spending large sums on advertising but their reasoning was "people don't know much about us".
Randstad the HR service provider was introduced in India and has been running for only one year. In order to create brand awareness of their service they needed to think of an effective brand building exercise.
Fortunate enough they associated with Formula One (F1) in India which is well known televised sports all about engineering, perfection and excellence.
In order to build their brand Randstad uses F1 to improve its interaction with their clients. Their pay-up club customers are invited to the races, members can watch how the cars are assembled, and it holds a contest for candidates in which the winners can view the race. All to raise the profile of the company and create a relationship with their premium customers, candidates and employees.
Their idea worked miraculously as figures went up, and the brand ranked at 181 up from 185 in 2011. When they reach 150 they will have become the number one HR firm globally.
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