Dear Class,
Excellent discussion is going on this week's topic. I have decided to contribute to the importance of building brand community to increase organisational brand equity. Brand equity is ultimate goal of brand management and is achieved through integrated marketing communication, value proposition in offering and applying holistic marketing. Brand community is important so is company brand integration, leverage, transparency, credibility, and accountability. Martin & Schouten (2012) talks about sustainable marketing to build sustainable brands. I have summarized the book chapter below:
- Integration - branding integrated across internal and external audience of the organisation. Satisfied employee creates satisfied customers.
- Leverage - have greatest possible impact using least resources, customer becoming advocate of the product/ services; importance of word of mouth and e-wom
- Brand Community - stronger more trusting relationship with customer, Coke in the park during Christmas, everyone holding coke can as price for entry to the event is strong message.
- Communities of purpose - Consider Earth Hour campaign, people getting together for the same purpose
- Accountability and Transparency - honesty in business and brand communication
- Credibility - let some one else talk good about your brand, the best is your current customers
- Consumer Education - not all consumers are aware about sustainability in branding
- Value congruence - the extent to which marketing message is consistent with target customers value system
Could you discuss these dimensions as contributor to brand equity in new dynamics of this century?
Reference
Martin, D., & Schouten, J. (2012). An Introduction to Sustainable Marketing . In Sustainable Marketing (1st e d., p. 2). New Jersey, USA: Pearson Education