What are Brand Associations?
Brand associations refer to the mental connections between the customers and a brand. Combined with brand awareness these associations make up brand equity.
Why are Brand Associations Important?
Brand association help to build value around a brand. It also differentiates you from the competitors and provides a reason for the customers to purchase your products. It is very important to know what kind of association you want your customers to have with your company from the beginning.
Brand Associations are Formed on the Following Basis:
Brand Association by Celebrity
Associating a celebrity with a brand plays a powerful role in driving brand recall among consumer audiences. Celebrities are their own brand hence partnering with them can be a benefit to your brand as your brand will be exposed to their audience.
Brand Association by Word of Mouth Publicity
Traditionally many companies relied on word of mouth publicity. It is the art of using your target audience’s online and offline conversations to build a greater presence within stakeholder communities to increase brand awareness. Word of mouth publicity can also help people develop positive perceptions of your brand, giving your business a competitive advantage.
Brand Association by Price at Which the Brand is Sold
Consumer behavior research has shown that people like being labeled or associated with brands that charge more for their products or services. When they use products from these pricey brands, they feel good. Both consumers and spectators alike appear to use a product’s price as a measure of the product’s quality. They assume that a higher product price indicates a higher level of quality.
