Hewlett Packard (HP) is an American multinational information technology company which deals with providing hardware and software solutions to small and large businesses. Other than that it also deals with business to consumer marketing by manufacturing and selling of different IT products. It was founded in 1939 in the United States but today their products like PCs, storage devices, software, printers, and imaging products are used by consumers worldwide. One of the lesser known facts is that HP was the very first company to introduce flex-time policy for employees through which they allowed their employees to work whenever they want and gained even more creativity out of them.
HP is undoubtedly one of those technology companies that enjoy very high brand equity and that is because it has been there in the market for so many decades now that even in so much competitive market, their consumers still trust them. Other factors for this are:
Brand Awareness
HP is a renowned technology firm with its products now available in over 170 countries. This is the reason that HP enjoys very strong brand reputation and it is that brand in the technology world which consumers consider reliable. It is also supported by the fact that they invest a lot in innovation as well as standardization which helps them gain more advantage than other competitors, thus increasing their value and awareness around the world.
Brand Loyalty
HP is known to maintain its relationship with their customers through various ways and this applies to both their business to business and business to consumers marketing. They also use social media integration to offer pathways for consumers to interact with the company and improve their experience with HP. These factors contribute towards their high brand loyalty.
Brand Elements
Some of the elements of HP to which consumers can relate to or it is easier for them to recall the brand just by looking at that element is their logo. Their logo has been same since the start that is why it has stuck in the consumers mind, plus it is short and conveys the company’s name as well. So it is easier for most of the consumers are able to associate the brand with the brand’s logo.
Perceived Quality
This determines whether the company has been successful in establishing their image in the consumers’ minds in the right way. Now when it comes to HP, it somehow lags in case of technological aspects, especially today when there is so much competition in this industry, so this aspect kind of lowers downs their brand equity. But other aspects are what the consumers remember the brand as. These include the performance, quality, after-sales services, design, customization, and reliability. These are the aspects in which HP is winning and has been able to retain its customers for many years now. These are the aspects on the basis of which HP is positioned in the consumers’ minds.
References
HP : Making it Matter. Retrieved March 6, 2018, from https://successstory.com/companies/hewlett-packard
Passikoff, R. (2012, September 19). Redesigning the HP Brand. Retrieved March 6, 2018, from https://www.forbes.com/sites/marketshare/2012/09/18/redesigning-the-hp-brand/#4016b0eb2c16
Sharath Ghosh, Business Analyst and Consultant Follow. (2012, January 6). HP Brand Equity. Retrieved March 6, 2018, from https://www.slideshare.net/sharathghosh/hp-brand-equity