This is the detailed brand equity analysis of Apple which has been operating in technology industry since 1976. It was founded by Steve jobs and considered as one of the innovative company in the domain of technology. Apple differentiate itself form competitors on the basis of quality and innovative product however, the prices are on the higher side.
Brand Association
Brand association of Apple is very, as it is always ahead of the market. It brought its own mobile software (IOS) in market while its competitors are suing android. It is perceived as the luxurious smartphone which has classy look and provide the sense of pride and standard to its users. It is delicate for using and strong with its features, as the phone will not stop working if it falls from 20th floor. It is expensive and user friendly products. It always bring some form of innovation and creativity in their products’ features and appearance (Keller, 2001).
Brand Awareness
Apple is one of the most famous brand, because of its “apple” logo, which is very eye-catching. Distribution and marketing is very strong in European countries, but in countries like Pakistan and India, its distribution and marketing is relatively weak. However, it is expanding in every country and has users from across the globe. For making it more convenient for the people to use apple, it started the leasing plan, for corporate customers. Moreover, it also uses winning strategy which is selling the refurbished or used phones in relatively low prices. China is the biggest market seller of IPhone, but after getting saturated with many smartphones, Apple needs to buy other market for selling its products (Finkle, 2016).
Brand loyalty
Apple is one of the fortunate company, whose consumers become its loyal from the day they start using it. Many users sifted from android to IOS, but very less shifted back from IOS to android. Consumers follow every new product launched by apple as soon as it comes in market. And still many individuals are willing to purchase the products of apple without any hesitation because of its quality. They prefer to use it as it gives them pleasure and convenient to use (Haseeb, 2015).
Brand Assets
Apple is a multinational technology company, and have manufactures many products in the area of consumer electronics, digital calculators, desktop computers, pocket laptops, software industry, commercial services and pocket computers. The most selling products of Apple are I phone, handy tablets, portable laptops, I pod, computer accessories and printers. Recently it introduced apple watch which got a huge market share (Haseeb, 2015).
Brand elements
Apple provides all the main functions in one device, for instance I phone carries all the main features that the consumer want to have in their daily or corporate lifestyles. It is more concerned with the emotions instead of fears and never compromised on its quality. Whether, an individual makes the purchase of computer or I pod, it provides the sense of delight. Its design is linked with economically and culturally power of technology. It is developed on the basis of individual’s imaginative ideas, perceptions, functional usage, courage, freedom, visualization, inspiration and motivation to use modern technology. It is simple and have sensory expressions. This is the main reason it is rapidly growing in the global market (Keller, 2001).
References
Finkle, C. 2016. What is brand equity? [Online], Available at: https://brandmarketingblog.com/branding-definitions/what-is-brand-equity/, [Accessed on: 15th February, 2018].
Haseeb, 2015. Brand equity of Apple. [Online], Available at: http://marketingdawn.com/brand-equity-of-apple/, [Accessed on: 15th February, 2018].
Keller, K.L., 2001. Building customer-based brand equity: A blueprint for creating strong brands.