Steps to build brand equity using Integrating Marketing Communications.

Brand equity is nothing but the value of a brand. It is not limited to a single dimension and it allows customers to self evaluate the brand and the benefits it offers.

The following techniques of IMC — can be used to build a strong brand equity:

1. Advertising : As the name suggests, advertising is any paid form of personal presentation and promotion of ideas, goods and services by an identified sponsor. Advertising requires a lot of innovation and creativity skills in order to create a differentiating image for a brand.
2. Personal Selling or Counter selling : In this technique direct communication is involved in converting one or more prospective buyers for the purpose of making sales. It is a marketing process in which consumers are personally persuaded for buying goods and services produced and offered by a manufacturer.
3. Sales Promotion : These are short term incentives like discounts , samples , etc. to stimulate demand for the product. It supplements advertising and facilities personal selling. Sales promotion consists of a diverse collection of incentive tools, mostly short term designed to stimulate quicker or greater purchase of a particular product or service by consumers or the trade.
4. Public Relations : PR is a broad overall communication effort to influence various groups attitude towards the organisation. It is a total process of building goodwill towards a business enterprise and securing a bright public image of the company. PR complements advertising by creating product and service credibility.
5. Direct Marketing : Direct marketing is a non-store retailing process by which a firm approaches its customers on one-to-one basis and markets its products directly to them.

These are some brief points that could help you build a strong Brand Equity , can you think of some more contributing ideas? Tell us at admin@logicspin.in