Quickly work Essay Example | Topics and Well Written Essays - 1500 words

Quickly work - Essay ExampleConsumers tend to believe that goods and services with well cognise filth names are much better than the products whose names or pocks are not well known. The process of evaluating or establishing if a given confederacys brand name is well known by customers is known as Brand Equity (Aaker, 2009). If one examines the car industry, some brands have been in the market since the invention of automobiles. A good example of such a company is the crosswalk motor company which despite emergence of many companies, Ford has continued to experience success especially in the American market just as a result of its brand name. Other companies such as Toyota have been producing cheaper and better cars, but despite this, Ford is among the favorite car brands in the United State of America. There are various approaches to ensure brand equity in a company. One of the approaches is known as customer found equity brand approach. This approach was developed by Kevin Ke ller hence it is referred to as Kellers Brand Equity Model. The approach is best understood by using the diagram below The above diagram simplifies the application of the customer based brand equity. In the first step, the goal of the company should be to create customer awareness or salience. This means the business establishment should ensure that its brand stands out, and it can be easily recognized by its customers. The second step involves identifying and communicating what the companys brand means. This step is further subdivided into two, which are process and imagery. Performance entails defining how well the companys brand will fulfill consumer postulate. Imagery involves showing how the business establishments products meet the needs of the consumer on a mental and social level. The third step involves consumers responding to the brand in two ways. These are feelings and judgments. Consumers will always make judgments about a companys product based on superiority, quali ty, and credibility. Consumers will also respond to a companys brand based on how it makes them feel. The concluding step in the customer based model is resonance, which is the most difficult level to reach in brand equity. This is where consumers will have a psychological bond with the companys brand. This usually takes many years for a companys brand to attain this level. If a business establishment attains this stage, so brand equity will be realized in the companys product. In conclusion, brand equity has been important over the years because it is believed that a brand is among the high value assets a business establishment can have. This is indeed a fact that is practiced in markets. Brand equity is use in showing the extent to which consumers know about a product, and this goes a long way in attracting loyal customers and boosting sales. Question 2 Adaptive market communication strategies are approaches in merchandise that adapt to changes in various factors as a result o f time. One of the major factors that results in the use of adaptive strategies of communication is technological changes. Technology changes have revolutionized a lot not only in communication, but in almost all sectors of the economy. Adaptive marketing communication strategies make sure that a company is ready for any change in the communication sector of the