nep-mkt New Economics Papers
on Marketing
Issue of 2023‒04‒03
one paper chosen by
Marco Novarese
Università del Piemonte Orientale

  1. The Impact of Brand Personality on Brand Equity and the Marketing Strategies to Dealing with such Issues By Baig, Mirza Wahid

  1. By: Baig, Mirza Wahid
    Abstract: If the company has customers, they have a brand. Their best customers have formed an image in the mind of what they are, what they do, and how they do it. Everything they have ever done and everything their people ever did helped to create the brand in their customer’s mind. Everything they do in the future will influence how their brand is perceived. Their brand is a litmus test of their business. If the company’s brand reflects the reality and potential of their business, that’s a great measure of strength. They can travel wherever their brand takes them. They can expand their brand and incest with confidence. However if the brand is low-key, passive, misunderstood, or undervalued, there’s a lot of work to be done. A weak brand is a liability in any category, while a strong brand soars. They key to growing a strong brand is to be clear about what a brand actually is. Usually product and brand are thought to be synonymous and are often interchangeably used, as words. However, there is a critical distinction between the two: “within every brand there is a product, but not every product is a brand.” A brand is much more than the logos and graphics, or other tangibles (though these are vitally important). It takes more than financial resources to build a brand (insight into human nature and imaginative creativity are more highly valued). Once a brand is created the company cannot assume the hard work is done (the hard work is just beginning). The simple, compelling fact is that their brand is about the special relationships they have with people, and how they make those relationships real. If the customers know the company and respect them and the company responds to them in stimulating and constructive ways, they have the basis of a great relationship. The company’s brand and their business are inextricably linked. Every effort they make to attract customers and become part of their lives grows their brand as it grows their business managing on a brand platform (Human idea) is the most comprehensive, most powerful and most productive way to move their business ahead. If they have a vision for their business, they need to make it realize through their brand.
    Keywords: Brand Equity
    JEL: M3
    Date: 2022–12–25

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