International Marketing - Brand Identity and Equity, Advertising and Sales Force - Essay Example

Brand equity is a concept that is commonly utilized in a marketing organization in order to describe the value of a particular brand or product. It is described as the additional worth which is endowed to the products and/or services offered (Kotler et al, 2006). Brand value is also referred to as brand equity which helps in identifying the emotions and feelings of a consumer which is widely considered to reflect in his/her buying behaviors. Moreover, brand equity is entirely dependent on both brand identity and brand associations (Wood, n.d). Brand identity is the process that helps in offering a particular direction and connotation to an existing brand.

In addition, brand identity is an exclusive set of brand associations that a strategist aims to create or preserve. Thus, brand identity amplifies the status of the brand, which is highly essential to sustain in long run in order to preserve its corporate image. Similarly, brand association is the attributes of a particular brand that are deeply present in the minds of the customers (McLoughlin & Aaker, 2010). Thus, both the above-described factors i.e. brand identity and association are responsible for augmenting the brand equity of a particular product/service of an organization.

Brand equity also helps in improving the relationship among the customers thereby reducing the switching cost of the buyers by enhancing its reputation (Onkvisit & Shaw, 2008). Hence, it can be avowed that brand equity is a significant intangible facet that helps in enhancing both the psychological and fiscal worth of a firm. This means that with the help of renowned brand equity, an organization can attract more customers which might help to augment the profitability.Relation of Brand identity and brand equity Source: (Wood, n.d.)Product StandardisationProduct standardization is a technique that is mainly utilized in order to diminish cost and enhance the quality of a particular product or brand.

The method of product standardization is implemented by varied organizations in order to increase the rate of production thereby streamlining the distribution system as well. Moreover, it also helps in declining the cost of raw materials which emphasizes product branding. Thus, it can be described as a strategy that is utilized in order to standardize the varied components of the products/services offered (Kotler et al, 2006). In addition, product standardisation can also be conducted by altering the packaging features in order to attract the attention of the customers and persuade them for their ultimate purchase.

Hence, it can be avowed that product standardisation is an important aspect of marketing which offers equal importance both in case of consumer durables and fast-moving consumer goods. Therefore, an organisation should undertake product standardisation procedure in order to enhance its brand equity concentrating on varied value-added features. Furthermore, product standardisation is also essential while penetrating a new market as it would facilitate in improving brand identity thereby augmenting customer responsiveness in the global market.