David Krenkel brand system; A unique and successful marketing strategy

According to the American Marketing Association, a brand is defined as anything used to identify a product which includes critical factors such as brand name, symbol, image, logo, and design. When you create a reputation, you also create value, which is how often people buy your products compared to other alternatives. Customers develop relationships with companies, and when they feel unique and aligned with their values, it can lead to new competitive advantage and loyalty.

Customers do not buy from brands for the characteristics of their function but also for the image which is part of the value. For example, buying Coca-Cola instead of Pepsi goes beyond taste and price; factors such as elements, associations, recognition and trust come into play when making the decision.

Companies like “Kantar” publish scale charts of the most valuable brands every year. This ladder chart is constantly changing and companies try to compile a yearly list. According to Kantar, the most valuable brands are currently Amazon, Apple, Microsoft and Google. We can analyze what these companies are doing well and what we can learn from their current strategies. All four companies have established brand awareness, perceived quality, loyalty and positive associations.

On the other hand, brand value is all the assets associated with the business, and they can increase or decrease in value. Companies spend millions of dollars to create and maintain these factors mentioned below. The four main assets of brand value, according to Aaker, a marketing expert, are:

  1. Brand awareness

  2. Perceived quality of the brand

  3. Brand Loyalty

  4. Brand Associations

Brand awareness measures whether customers have seen our brand in the past. As the first step in the marketing funnel, it is fundamental to eventually acquire new customers and build the recognition and memory capacity of your business. Where increased brand awareness can be interpreted as a competitive advantage since it can significantly influence customer decisions at the crucial moment of purchase, higher brand awareness can also drive new customers and traffic to the site. your business website.

Perceived brand quality is one of the most important associations. When a customer is choosing between multiple brands, compare the value for money and their perception of the overall experience against other alternatives on the market. For the price of a product, the customer is looking for adequate quality. Businesses associated with higher attributes may charge more for their products and businesses with loyal customers. The quality perceived by customers can be different from the actual quality, because negative customer experiences can influence it.

Customers today have many options and some markets are saturated with choice, which is no longer limited to buying from a single store, this is where loyalty comes in. Engagement can be achieved by delivering a premium experience to your customers because they will see you as the best option. It has been proven that loyal and satisfied customers are more likely to recommend your brand to others, which increases sales and new customers. It also increases the chances of loyal buyers trying other products within your business, which makes it much easier to introduce a new product line.

Another factor influencing value is brand associations. Associations are factors that come to mind when thinking of a specific brand. The corporate image should reflect positive associations to establish an excellent reputation and align with its identity, vision, message and values. For example, when we see the swoosh logo or the words “Just Do it”, we often think of Nike first. If we need new shoes for running, chances are customers will include Nike as a possible choice. This is a positive brand association that every brand wants to achieve, but difficult to develop overnight. This strategy can set you apart from other competitors and show why you are memorable as a business. The best way to get a positive association includes tone of voice, graphic design, logo, colors, composition, elements, images, etc. The crucial part of positive associations is the brand identity built by the positioning of the company. A company with a well-defined positioning will strengthen the perception of your products by customers.

Branding in today’s world plays a bigger role in customers’ decisions between products or services; therefore, the brand marketing strategy plays a crucial role in the acceptance of the products or services by the customers. The brand and its value is one of the most important assets a business can have, and it can compete by creating loyal customers. Companies want to promote themselves, keep people coming back for their products, and present an enthusiastic side that people can relate to.

Media Contact
Company Name: American PERMALIGHT®, Inc.
Contact person: David Krenkel
E-mail: Send an email
Country: United States
Website: americanpermalight.com