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These days creating brand equity has become very popular because most people understand the importance of branding. There are different types of brand elements available today and you can make use of these elements to create a brand image for your Company.
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There are also certain marketing strategies that mainly aim towards distribution network, product and pricing. In these cases the focus is mainly on the products and their characteristics along with their prices. There are certain products which are already an established brand and for such branded products leveraging secondary brand association is essential in order to create brand equity.
Facilitating the Leveraging Process
There are various ways by which you can facilitate the process of leveraging secondary associations and some of these options include association with countries, distribution channels and companies. In order to create the brand image of a company it is essential to get a brand ambassador and also a sponsor.
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You can use the secondary brand association only if the customers do not have any knowledge about the association of a newly launched product with a well-known brand. Therefore they have a completely indifferent approach towards a particular product.When a company is launching a product in the market, they have to find out if associating it with an established brand will be of any help.
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Associating an established brand with a new product
If a company is launching a new product then it is always better to associate it with the existing corporate brand. For example when Nokia introduced a new laptop they named it Nokia 3G booklet. This made consumers associate the brand Nokia with the newly launched laptop.
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