Uploaded on Jul 17, 2021
Build A Brand Equity with Digital Marketing Brand Equity is referred to the worth of a brand or it can be simply understood as the value of the brand name. Get your business a strong online identity via TTDigitals Digital Marketing Services. To know more, visit:https://ttdigitals.com/build-a-brand-equity-with-digital-marketing/
Build A Brand Equity with Digital Marketing
TTDigitals India
Build A Brand Equity with Digital Marketing
Brand equity is referred to the worth of a brand or it can be simply
understood as the value of the brand name. As consumers all over
the world are more attracted towards well-known brands in
comparison to lesser-known brands, the name of the brand can
generate more revenue simply by its recognition. Brand equity
affects the consumer’s awareness about the brand features and
associations which in turn impacts the perceptions of buying.
According to study and experiments, a strong and we’ll known brand
name works as a very positive signal of product quality for less
informed buyers, as they intend to opt for new products with more
brand value.
Brand equity plays a vital role in determining the price structure and
the companies get an opportunity to charge the price afterwards
accordingly. It is important to know the concept of brand equity in
order to understand the competitive dynamics and price structure of
the business. In Industry markets the competition is mostly based on
the difference in product performance. Branding Agency Firms
which charge extra premium than others reflect the brand equity of
reputed manufacturers.
Brand equity is hard to quantify, many experts have developed tools
in order to analyze this asset, but there is no actual measure of it.
Although quantitative brand equity can measure numerical values
such as profit margins, market share, growth rates etc, it fails to
determine the qualitative elements such as reputation, associations
of interest etc. Digital marketing is basically the marketing technique
that utilizes internet and online digital technology such as desktop
computers, mobile phones and other digital media as well as
platforms to advertise and promote products and services.
Brand Equity with Digital Marketing
With the surge of advanced technology and internet facilities there
has been a change in the way brands and businesses used to
promote their products and services in order to grow. As digital
platforms have become an integral part of the population as
people are using digital devices more often. The potential of digital
marketing is immense, in order to exploit that business firms have
now introduced digital marketing campaigns.
Search engine optimization ( SEO) and search engine marketing
( SEM), content marketing, influencer marketing, content
automation, data driven marketing, e-commerce marketing, social
media marketing are some of the major digital marketing tools used
by businesses in order to attract more customers and grow.
One of the major objectives of digital marketing is to raise brand
awareness, to the extent where customers and the general public
will be familiar with the brand. Brand awareness is one of the main
dimensions of brand equity, which is considered to be an important
factor impacting consumers’ buying decisions.
Enhancing brand awareness is crucial in digital marketing because of
its impact on brand image and customer decision making.
According to recent trends businesses and digital marketers are
promoting brand awareness, investing more on developing brand
recognition. Influencer marketing is very popular nowadays, which
involves famous and identified individuals with big social media
numbers. Brands are paying money to these influencers to promote
their products which helps in creating brand equity and overall
growth.
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