Brand image

• What is brand image?

  Impression customers have of your business
• What is a short-term effect of a positive brand image?

  Increased sales
• What can lead to repeat sales in the long term?

  Customers liking their purchases
• What does brand loyalty lead to?

  Repeat customers
• How does brand loyalty affect product portfolio sales?

  Encourages customers to buy other products
• What is a potential benefit of increasing sales and revenue?

  Increased market share
• How does a strong brand image affect rivals?

  Acts as a barrier to competition
• What are the two types of rivals mentioned?

  Current rivals and potential rivals
• What might current rivals do if faced with a strong brand image?

  Lower prices or increase product quality
• What could happen if rivals lower their prices?

  They may reduce their revenues
• What could happen if rivals increase their product quality?

  They may increase their costs
• How can a strong brand image deter potential rivals?

  It makes market entry seem difficult
• What are the costs associated with maintaining a brand image?

  Increased marketing and customer service costs
• What technological improvements are needed for brand image?

  Strong e-commerce and mobile commerce
• What is brand upkeep?

  Maintaining a strong brand image
• What is a danger of brand image reputation?

  It can be lost quickly and is hard to rebuild
• What can happen if a brand image is damaged?

  Increased marketing costs to rebuild it