about brand building, western scholars put forward an important concept: brand equity.

brand equity can be divided into primary and advanced levels. Primary brand assets include brand awareness and recognition, which are the basis of brand success, but the threshold is not high and it is not a core competitiveness. The core competitive advantage of a brand generally comes from advanced brand assets, such as brand association and brand loyalty.

brand equity

brand equity refers to consumers' knowledge and psychological facts about brands and is an important factor that affects consumers' perception of the value of products and services.

Woodruff, the former chairman of Coca-Cola, famously said, "If my factory is destroyed by fire, as long as I have the brand of Coca-Cola, I will stand up again the next day." This is the value of brand equity. Brand equity is a very abstract concept, because it is invisible and intangible. For example, the same brand "Bull", "Bull" socket probably only has primary brand assets. It is a well-known trademark. Compared with the general socket, everyone thinks that the "Bull Brand" is more familiar to listen to and more comfortable to use. The Chicago Bulls in NBA is a high-grade brand asset, because it can instantly remind people of "Flying Man" Jordan and "Zen Master" phil jackson, and the memories of skipping classes and going out to watch football when they were young ... Even if the "Bull Dynasty" came to an end and the team's performance began to fluctuate, you will be surprised to find that countless fans all over the world still maintain their love and loyalty to this team.

after understanding brand equity, you may be more confident to build a century-old shop. Don't worry, you should eat your meal bite by bite. You can start from these three aspects.

first, establish a clear brand awareness. Suppose you want to go to the supermarket to buy a bag of washing powder. We roughly divide the washing powder into three categories: the first category is the brands you are particularly familiar with, such as Mystery, Blue Wave and Tide; The second category is those brands that can't be remembered at ordinary times, but they all know their names, such as Libai, Chaoneng and Carving. The third category is brands that have never been heard before, such as Lova and Good Dad ... Are you equally likely to buy these three brands? You will find that as long as you know a brand, you will have an impression on it and allow them to enter your candidate range. Generally speaking, no one is willing to take the risk to buy the so-called "inferior brand goods" that have never been heard of. That's why it's worth investing heavily to have a nice name, design a pleasing logo and develop a set of mature visual norms. Distinctive brand recognition can bring you long-term and stable returns.

second, form a strong brand association. Brand association is a more advanced brand asset than cognition. For example, when you see Mercedes-Benz, you think of successful businessmen, when you see BMW, you think of driving pleasure, when you see Volvo, you think of driving safety, when you see Jeep, you think of inner wildness, and when you see Mini (a luxury small car brand owned by BMW), you think of exquisite petty bourgeoisie. A good brand can make everyone feel a good feeling in their minds as soon as they see it, and form a unique association. Especially when you advertise repeatedly and constantly strengthen this association, users will form a path dependence in thinking, which can make your brand synonymous with this association object.

third, with the help of high-quality leverage resources. More than a decade ago, Red Bull gave people the feeling that it was nothing more than refreshing, because it was "sleepy and tired to drink Red Bull". Later, it was found that Red Bull can be seen in music festivals, extreme sports, badminton competitions and other scenes. These are the leverage resources that the brand has found. With these levers, Red Bull has shaken the scope of brand association, amplified the intensity of brand association, and made people understand the word "enhancing energy" more intuitively and figuratively. This is equivalent to taking that trait from others and putting it on yourself. This is called "leveraging strength", and it is also called "four or two".

To understand brand equity in a word:

Whether it is skin or soul, the pursuit must be one in a million.

uniqueness is called uniqueness

-brand positioning-