Final answer:
To build brand equity, one should start by defining a strategy, then define the brand, execute aligned marketing activities, measure effectiveness, and refine the strategy as needed, ensuring the timeline and cause-effect relationship are correct.
Step-by-step explanation:
To build brand equity, one must think carefully about the timeline of events and the relationship between cause and effect. The process generally involves the following steps:
- Determine your strategy for the brand by analyzing your goals and how you intend to achieve them.
- Define the brand to understand its core values, mission, and distinctive qualities that set it apart.
- Execute marketing activities that are aligned with the brand’s strategy and definition.
- Measure the effectiveness of these activities to understand their impact.
- Refine your strategy and execution based on the analysis to optimize brand equity growth.
It's essential to have a clear starting point and to ensure that your best work is showcased as it reflects the brand’s value. Regularly tracking the history and impact of your choices helps in maintaining the desired trajectory.