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These studies suggest that brands can increase brand equity through higher advertising budgets, maintaining high prices, good store image, high distribution intensity, enhancing customer loyalty and trust, maximizing non-product-specific brand characteristics, increasing brand awareness, providing specific brand associations, crafting a strong brand identity, and delivering positive brand experiences.
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Brand equity is a critical concept in marketing, representing the value a brand adds to a product or service. It encompasses various dimensions such as brand awareness, perceived quality, brand loyalty, and brand associations. Understanding how to increase brand equity is essential for marketers aiming to enhance consumer preference, purchase intentions, and overall market performance.
High Advertising Spending:
Brand Loyalty and Image:
Marketing Mix Elements:
Brand Experience:
Brand Identity and Design:
Brand Awareness:
Brand Extensions:
Consumer Trust and Commitment:
To increase brand equity, brands should focus on high advertising spending, fostering brand loyalty and a strong brand image, and creating positive brand experiences. Additionally, maintaining a well-crafted brand identity and leveraging brand awareness are crucial. Strategic use of brand extensions and ensuring consumer trust and commitment further enhance brand equity. By integrating these strategies, brands can significantly improve their market presence and consumer perception.
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