Target Market Selection
Target market represents a group of individuals who have similar needs, perceptions and interests. They show inclination towards similar brands and respond equally to market fluctuations. Individuals who think on the same lines and have similar preferences form the target audience. Target market includes individuals who have almost similar expectations from the organizations or marketers. […]
Consumer Communication and Persuasion
Consumer communication and persuasion is an essential part of any Marketing Strategy. In fact, it is the starting point of all improvement as consumer voices provide companies with the data such as where they are lacking and what all they could do to improve the product or service. Do all companies listen to the consumer […]
Green Washing, Corporate Spin and CSR
As for superficial attempts to practice CSR, the term “green washing” gives an instance of how the aims of CSR are subverted. Green Washing refers to the practice of the corporate spin employed by a company in declaring itself to promoting environmentally friendly policies whereas in reality, the company does not live up to the […]
Managing Integrated Marketing Communication
Integrated marketing communication is an approach to promote products and services (brand promotion) where various modes of marketing are integrated so that similar message goes to the customers. According to integrated marketing communication, all aspects of marketing communication work together to promote brands more effectively among end-users and also for better results. Brands are promoted […]
Relationship Marketing in Practice
There is a realisation and understanding that Customer Retention is beneficial and rewarding than the efforts required in finding a new customer. Marketing managers can be successful only when they know how to build an interactive ongoing interaction with their customers. The scenarios of being in tune with the customer varies from business to business. […]
Brand Equity is defined as value and strength of the Brand that decides its worth whereas Customer Equity is defined in terms of lifetime values of all customers.
Brand Equity and Customer Equity have two things in common-
But conceptually both brand equity and customer equity differ.
To conclude, we can say brands do not exist without consumer and consumer do not exist without brands. Brands serve as a temptation that utilizes other intermediaries to lure the customers from whom value is extracted. Customers serve as a profit-medium for brands to encash their brand value. Both the concepts are highly co-related.
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