There have been many times when a brand idea from an original source has been stolen by another company. This happens so often that it has been called “stepping stones” to the creation of a brand identity or brand equity. The company that steals the idea moves forward, builds on it and then puts it back out for others to steal. Brand ideas are very important to a company because without the brand identity they have no value and their ability to compete effectively is diminished. Find Out – useful source
What Did The Brand Of Apple Stole?
Brand equity refers to the value a company has in its customers’ eyes. If a customer buys a product from you but another company makes a better version and advertises it, then that company’s brand equity grows. In fact, if they keep on selling the same product but in a different package they can continue to grow their brand equity and make more profits. That’s why brand ideas are so important to companies. They create a bond between the company and their customers and therefore their loyalty and retention are of paramount importance.
When a company steals brand ideas they take away the value of what the customer already knows and use it to make their own version. They take the customer’s ease and familiarity and then add to it, sometimes sacrificing quality. Brand equity is a vital ingredient in any successful business. If you want to maximize the return on investment you should think about brand ideas as much as you think about your products, your marketing strategy and your company.