Building Brand Equity
The Brand of Car is one of the most important elements in the success of a new vehicle. The Brand is the image that a vehicle projects to the public. A new vehicle has to stand out from the numerous other vehicles on the road. This is done by the manufacturer by launching a marketing campaign that will reach out to potential customers. It is estimated that nearly 25% of a car’s initial sale is the result of the Brand of Car.
There are a number of factors that go into creating the Brand of Car. One of these is the model of the vehicle. Another important factor is the style of the car and what features it comes with. The color of the car is also very important and will have a profound impact on the Brand of Car.
The Brand of Car must be given a creative shape. A car must project a personality and lifestyle. It should appeal to the customer in a way that the customer feels they can relate to the car and feel a connection. The brand of car should be reflected in the service, care and attention given to the vehicle, including the performance.
A brand should have a logo that is easily recognisable Mercedes vs BMW. A trademark that is seen anywhere, on anything, will help to increase awareness of the brand. In addition, the logo or trademark can be linked to a business. This helps to build reputation and credibility. The more links to a business, the more likely clients will trust the brand.
Another way to build up the Brand of Car is to lend a hand. You could lend money to a charity or organise a race for a good cause. You could also give time to a local community to improve the community or build schools or houses. All of these actions will help to create a positive feeling about the brand and the product. For example, if you purchase a car that has been built locally, you will feel part of the community and part of the economy.
Finally, a brand needs to be consistent. This does not just mean giving customers what they want, but giving them what they need. The brand should not become obsolete quickly by offering the same model of car next year. Customers should be offered the latest model and have the option of changing to a different one. If this is not possible, then perhaps a different model should be tried out.