Conclusion
Creating brand equity, that is, building a strong brand, is a successful strategy for differentiating a product from
competing brands (Aaker 1991). Brand equity provides sustainable competitive advantages because it creates meaningful competitive barriers. Brand equity is devel- oped through enhanced perceived quality, brand loyalty, and brand awareness/associations, which cannot be either built or destroyed in the short run but can be created only in the long run through carefully designed marketing invest- ments. Thus, brand equity is durable and sustainable, and a product with strong brand equity is a valuable asset to a firm. Our study shows the importance and roles of various marketing efforts in building strong brand equity. Manag- ers can relate the findings to their brand-building strate- gies. To enhance the strength of a brand, managers must invest in advertising, distribute through retail stores with good images, increase distribution intensity, and reduce frequent use of price promotions. As for price, high brand equity may allow a company to charge a higher price because consumers are willing to pay premium prices.
ConclusionCreating brand equity, that is, building a strong brand, is a successful strategy for differentiating a product fromcompeting brands (Aaker 1991). Brand equity provides sustainable competitive advantages because it creates meaningful competitive barriers. Brand equity is devel- oped through enhanced perceived quality, brand loyalty, and brand awareness/associations, which cannot be either built or destroyed in the short run but can be created only in the long run through carefully designed marketing invest- ments. Thus, brand equity is durable and sustainable, and a product with strong brand equity is a valuable asset to a firm. Our study shows the importance and roles of various marketing efforts in building strong brand equity. Manag- ers can relate the findings to their brand-building strate- gies. To enhance the strength of a brand, managers must invest in advertising, distribute through retail stores with good images, increase distribution intensity, and reduce frequent use of price promotions. As for price, high brand equity may allow a company to charge a higher price because consumers are willing to pay premium prices.
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