Brand values – additional information
Brand is an important asset to any company. They often come in the form of a name or logo which is used to identify and distinguish a company’s product from others. The success of a brand can be determined in a variety of ways, such as monetary value, customer awareness and customer trust.
The customer experience of a brand can have a lasting effect on its reputation. One way in which customer experience can be assessed is based on the simplicity or complexity of its products, services, interactions and communications. In November 2015, over 12,000 consumers were surveyed on their customer experience and the leading brands were ranked by simplicity of the experience. The results showed that Google provided the simplest experience for consumers with the highest simplicity score of 871. Other brands which ranked high included Netflix, Publix, and Amazon.
Strategies are often put in place to ensure and maintain healthy relationships between a brand and its customers. Consumers in the U.S. were surveyed to ascertain the brand-customer relationship building measures they found important. During the survey it was revealed that 72 percent of respondents stated that rewarding loyal customers was important and a further 72 percent stated that offers and promotions were important in building relationships.
Advertising is a key component when it comes to the public interaction, awareness and perception of a brand, and high budgets are often invested to ensure that a brand’s advertising is a success. In a worldwide survey among internet users, the influence of advertising was assessed as respondents were asked; ‘Are you likely to buy products from brands that have great advertising?’ Of those who answered yes, China had the highest share with 61 percent of respondents. In comparison, only 27 percent of respondents from the U.S. answered yes.