The Apple Story

 

The Apple company is a great example of company that elevated it's brand's equity.  Before 2001, Apple was known as just a computer company that was a competitor to the personal computer.  The big break in their brand equity happened when they released the ipod. The ipod a portable media device that could hold music from an online Library became really popular. 

Apple began to be seen not just as a computer company. But an innovative and amazing company. This greatly improved their value to a high rate of growing audience. There brand equity surged. Following the expansion of products with the release of iphones, ipad and apple watches. All these expansions generated real values in the eyes of consumers. Thereby leading to an increased brand equity. 

This right here is the reason why people can wait for hours to buy a new release despite Apple's charges. 

Lessons to Learn

Use a moment to reflect on other brands with particular high brand equity. Take note that brand equity does not really mean the high cost of products or the way they spend on marketing. But rather, the value of the brand in the consumer's eyes. 

Brand integrity

The reason why a business will have low brand equity is when the integrity of the business is lost. 

What does brand integrity mean?

This is the close relation between a business brand identity and reputation and how they align with the values and mission of the brand.

When the brand identity relates well with it's values and mission in the public eyes, then the brand reputation remains firm.

If not, the reputation of the company suffers and this can happen as a result of bad products or scandals. 

Brand positioning

This is defined as the Integral space a brand aims to hold in the mind of their consumers. it helps to identify market gaps that businesses can fill. it allows one to define the brands unique value which can serve as means of communication to their consumers. 

Businesses begin first by understanding their competitors and their business or products. 

After which they research the target audience for their brand.