Marketing is the battle for the customers mind. The goal for any brand is to own a share of customer’s minds – a position in their mental product grid that has value to the customer and the company that owns the brand.
In reality, brand equity in their customer’s minds is any company’s most valuable asset. The mind is like a dripping sponge and the only way to get in is too displace what already exists. This is the essence of establishing a unique value proposition, and perpetually defending against competitor’s challenges i.e. creating, growing, and protecting brand equity.
This book describes the process of establishing brand equity and maintaining, and growing the value of the company’s brand portfolio. It contains a plethora of examples of well known brands and their brand equity strategies.
This book is essential reading for any student or manager to embellish their knowledge about marketing, and building brand equity, specifically. There is a powerful marketing maxim: “if the customer gets to the future before you do, they will leave you behind”. In an era of one-to-one social media driven mobile marketing this concept has become even more relevant.