|Building Brand Equity
Your brand represents so much more than a logo, and that’s especially true for your users. Developing a strong and dynamic brand creates a solid foundation for your company, but the success of that brand over the long term depends on your brand equity. According to Inc., “when people speak of "brand equity" they mean the public's valuation of a brand”. Brand equity is more of a concept than anything else, and acts as a framework for understanding the power of consumer’s emotions in relationship to your positioning.
Kevin Lane Keller, marketing professor at Dartmouth College, outlined the factors necessary for brand equity in his book, Strategic Brand Management. In the text, Keller stresses that in order to build brand equity, you have to shape how consumers think and feel about your product. These thoughts and feelings are categorized by four questions that represent what consumers subconsciously ask about your brand.
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This article originally appeared on Forbes.com. You'll find a link to the original after the post.
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