How two groups of consumers respond to two marketing campaigns. Holistic approach: Estimate the value of the entire brand through specific financial data. Estimate the value of the brand based on many assumptions . Now that you have completed the process of creating brand assets and know how it went, what’s next? In recent years, the global market environment has changed greatly due to the COVID-19 pandemic . Changes in consumer behavior, competitive strategies, government policies, artificial intelligence technology, etc. will profoundly affect the fate of brands. In addition to external factors.
Depending on the factors , the company itself will also make strategic adjustments, large or small. Therefore, brands require long-term planning and management so that the company can at least extend the number data brand's life cycle - if not substantially improve it - despite the influence of all these different factors . Simply put, there are two ways to extend the life of a brand: Strengthen your brand. Activate the brand. Strengthen your brand Only by continuously conveying brand meaning (brand awareness and brand image) to customers through marketing activities can we strengthen the brand. Every day, every week, every month, every quarter, every year, we need to reflect.
What have we done to innovate our brand and marketing and make them more relevant? If we don’t have a clear answer to this question, the consequences will be serious. Former industry giants Nokia and BlackBerry have been desperately trying to catch up in recent years as the smartphone market has undergone fundamental changes in technology and marketing. Activate the brand In every category , many once-prominent and admired brands have fallen on hard times or even disappeared entirely. To activate a brand, you either need to recapture lost sources of brand equity or reaffirm and build new sources of brand equity. There are usually three feasible methods: 1 ) Recognition.