Brand Equity In Class Activity
1. What brand image/ positioning exist in customers' minds?
- Cool and Fun ( Established through its product packaging and product features)
- Techies (Product features and innovations)
- Better product quality and features (Price: Slightly higher than other brands)
2. Threats to the brand
- Issues with products (Eg. Removal of Google Maps for new OS)
- Lawsuits with other companies (Eg Samsung and other technology companies) as negative publicity to the company
- Erosion of product superiority: Customers might feel that other brands have a more superior technology than Apple products
- Value for money: Customers feel that products are not worth the money
3. How can brand equity be secured and increased in face of these threats
- Continuous innovation for better products
- Manage positive brand image: Such that the company can continue to charge high prices and customers are less inclined to brand switch
- Manage negative publicity and issues with care: Ensure external feedback by customers are being addressed. Turn customers complains into points for innovations and possibly competitive advantage.