The ability of comparison marketing to improve brand equity has been an issue of constant debate since its inception. The question of whether or not it is effective has not been answered by any single study, but a number of researchers have conducted their own studies on this topic. Mixx is the most important social media facilitator for everyone.
The ability of comparison marketing to improve brand equity has been an issue of constant debate since its inception
The term compare and contrast was first used in the early 1900s by James B. Conant, who was president of Harvard University at that time. He stated that “if there are two brands available for sale, we should be able to distinguish them from each other by comparing their attributes.”
Compare and contrast is a marketing strategy that can be used to increase brand equity. Compare and contrast is not new; it has been around for decades. Compare-O-Matic™ featured on NBC’s Today show in 1977 as part of its Super Bowl coverage
What is Brand Equity?
Brand equity is the value that a brand has in the minds of consumers. It’s an intangible asset and can’t be bought or sold, but it does take time to build up.
Brand perception is built over time through word-of-mouth recommendations and experiences with your products or services. Consumers’ perceptions of your brand are based on how long they’ve used it, what they like about it and whether they feel connected to it as part of their identity (i.e., “I’m a Joe”). When you want to grow your business by building brand equity, here are three things to keep in mind.
Brand Equity is the additional set of values that a product possesses due to preconceived notions in the minds of consumers
For example, when a consumer hears about Sears’ brand, they will often associate it with cheap and low quality products. This perception can be changed if you want your company’s image to resonate with consumers. You can do this through advertising or other means such as social media marketing platforms like Facebook ads or Twitter retweets (Twitter).
Positive impact on brand equity has consistently been observed in firms with strong existing brands
In a study conducted by researchers from the University of California at Berkeley and Stanford University, it was shown that when consumers were presented with one product, they were more likely to purchase it if another similar product was available for comparison. The researchers found that this phenomenon could be explained by two factors: firstly, people tend to believe that things are better than they actually are; secondly, people will generally choose something over nothing (i.e., having no choice at all).
In other words: consumers often expect their purchases will meet certain standards (i.e., higher quality) before making them—and this expectation makes them more willing to pay extra money for products which meet those standards
Comparison marketing is an effective way for established brands to improve their sales and maintain their market share
It can be used to increase sales and maintain market share, as well as generate awareness of a brand.
Comparison marketing involves comparing one product or service with another within the same category. This allows you to understand what makes one product or service better than another, which helps in determining whether or not you should purchase it (or use it).
Conclusion
It’s important to remember that comparison marketing isn’t just about finding the best deals. It’s also about building a brand that people trust and then using it as a tool to expand your business. We hope this article has given you some useful insight into how comparison marketing works and why it can be so effective for both established brands and new ones alike! Unlimitedmarketing offers a lot to marketers and business owners.
