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Marketing Name: Institution: Course: Tutor: Date: 1. Factors that organisation can utilise to help build brand equity Brand refers to different aspects such as name or symbol, which are aimed at outlining the product in respect to products of its competitors.
Does it motivate the buyers? And does it enhance user loyalty. As such, all the above factors are important as meeting them proves that the brand is acceptable by various persons, which ultimately leads to increased sales and consequently organization growth. Since the main aim of branding is winning the customers and meeting their expectation that the products offered are the best for them, then it is mandatory to have an in-depth understanding of their needs. In undertaking the branding process, it is not only important to win new clients but also maintain the current clients, to ensure business expansion is realized. How to establish a brand The clients, through what they speak of the product, ultimately determine the brand equity of a commodity. In this case, the most promising products in meeting the needs of the clients have a strong value for their brand. Through the use of information available at the market and the clients’ perception of the products capacity to meet the needs, an appropriate product is selected. This is greatly influenced by the beliefs and perception of the client towards a commodity in relation to the specific needs that need to be addressed. In the course of improving brand equity of a specific product or institution, the two main factors that are taken into account include brand knowledge and brand awareness. ...
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