Post by account_disabled on Mar 6, 2024 5:36:39 GMT -5
The For example a noname pair of jeans could be worth 19 while a Levis branded pair of jeans could be worth 119. Clearly theres a difference in value based on the brand.gave a nice definition when he wrote A brands value is merely the sum total of how much extra people will pay or how often they choose the expectations memories stories and relationships of one brand over the alternatives. As you can tell now were getting into deeper ground. A brands value is not simply how much extra people will pay more for a pair of Levis jeans over an unbranded pair but also how often they choose that brand and for which reasons. Example A branded pair of jeans may cost.
But if people choose them only once for a matter of prestige but never buy again then the brand doesnt have much value. No one can survive Job Function Email List on onetime customers. But if lets say another brand of jeans costs 79 but the people who buy once choose to buy again and again then this second brand has a far greater value than the first one. Repeat customers are the lifeline of every business. And repeat business is tightly tied to values. The CEO of Starbucks Howard Schultz nicely summarized the connection when he said If people believe they share values.
A company they will stay loyal to the brand. ersa because it tastes better. It doesnt. And countless studies have shown that the difference is all in our brains You buy it because you bought either into the happiness brand or the youthfulness brand depending on which value you consider most important. For your brand to be valuable you dont have to have the most expensive products or services in your industry. Your value gets multiplied every time a customer chooses to come back to you chooses.
But if people choose them only once for a matter of prestige but never buy again then the brand doesnt have much value. No one can survive Job Function Email List on onetime customers. But if lets say another brand of jeans costs 79 but the people who buy once choose to buy again and again then this second brand has a far greater value than the first one. Repeat customers are the lifeline of every business. And repeat business is tightly tied to values. The CEO of Starbucks Howard Schultz nicely summarized the connection when he said If people believe they share values.
A company they will stay loyal to the brand. ersa because it tastes better. It doesnt. And countless studies have shown that the difference is all in our brains You buy it because you bought either into the happiness brand or the youthfulness brand depending on which value you consider most important. For your brand to be valuable you dont have to have the most expensive products or services in your industry. Your value gets multiplied every time a customer chooses to come back to you chooses.