Amazon's Brand Equity in India Decoded | Why is Amazon a strong Brand | Amazon India marketing strategy
Amazon's Brand Equity in India Decoded across 5 elements of Brand equity. 5 main elements of Brand equity: 1. Brand awareness - This is the first step for any brand to build its brand equity. A high level of brand awareness is when the target audience can recall a brand's name when there is a requirement. 2. Brand Association - This describes the kind of association or the attributes of the brand the consumers associate with it. As a marketer, you need to think that what kind of association or memories do you want your consumers to associate with your brand. 3. Perceived quality - This is the customer's perception of the overall quality of the brand. As a marketer, you need to create a high perceived quality of your brand so that consumers ultimately start to have a high brand association. 4. Brand Loyalty - A high brand loyalty means that the customers are making repeat purchases of a specific brand amongst a set of alternatives. The repeat purchases not only add to the sales but also a sense of trust amongst the customers. Therefore, as a marketer, you need to aim for repeat purchases as this increases brand loyalty. You can achieve this basis your product quality, perception. 5. Brand proprietary assets - This includes a brand's assets like patents, trademarks that give a brand a competitive advantage over its competitors. Therefore, as a marketer, your brand should come up with such proprietary assets that help you differentiate from your competitors. Go through the Slideshare presentation to further understand the 5 points of Brand equity with Amazon example.
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