Posted by Elena del Valle on May 11, 2016
By Jay Gronlund,
President, The Pathfinder Group
Jay Gronlund, president, The Pathfinder Group
The concept of brand equity (i.e. the perceived value of a brand) firmly arrived in the 1980’s when consumer goods companies reacted to a surge of cut throat discounting with a new search for a more sustainable way to boost sales and profits. The answer was to pour money into well-crafted brands, increase pricing, and highlight distinctive product features, all designed to create a more compelling brand image that would lead to greater loyalty. As David Aaker wrote in his book in 1991, “Managing Brand Equity”, aggressive marketing is needed to generate awareness, create a positive perception of relevant brand qualities, and grow loyalty, the three pillars of brand equity.
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