How Social Media is Changing Brand Building

I think Brand Equity is a kind of combination of  "Brand perception" and "Brand Experience", the Brand Equity is based on customer's feeling. In oder to build Brand Equity, company should fouced on customer's perception and make customer satisified with the brand.

Brand equity depends highly on the reputation a certain brand carries. The more respectable, reliable, honest, etc. the higher the brand equity. 

Brand Equity is a finicky thing that is really hard to put a finger on what exactly it does for consumers. Many people are attached to a particular brand simply because of how they perceive it, ignoring the experiecnce that they get from it. This makes me think of the age old Mac Vs. PC debate, how many people will aruge their side just because it's what they like, without them even knowing it isn't always what's best for them.

Most brands would do better if they had a large budget but smaller brands can survive without it. It definitely helps to be able to post your brand everywhere so having a larger budget can help you do this. I don't think a brand can be built just off of social networks because they wont really have credibility. Anyone can post something online and it takes brands that have a larger budget to be able to create commercials and get sponsors or sponsor others. Brand equity is both for sure, everyone percieves brands differently and after you experience the brand, your perception might change.

Brand Equity is the dollar amount of how much more you can charge because you are selling from your brand rather than merely selling your product. There is a real monetary value to brands. Building a brand requires that the customer perceives higher value from a certain company. This perception must be based on something though. You can either receive knowledge from friends or other sources or have direct experience with the brand itself. Brand Equity is a personal experience though. You can only place money on brand equity once you personally have an experience with the brand that gave it value. Value is a personal judgemnt unlike perception. Brand Perception is important for large awareness campaigns but less important for brand equity.

With big budgets, of course people can build a brand easily and faster. But I believe we still can build a brand through social media platforms successfully. Todays, social media is a part of our life and through social media platforms, people can display themselves and even make themselves as a brand just like companies do. It gives anyone the opportunity to build a brand without spending lots of money. And i think brand equity is a combination of brand perception and brand experience. Because after you experience certain brand, you may change your perception and thoughts of the brand and also your perception of certain brand affecst your brand experience too. Like this, these two concepts work together.    

Being able to build you brand without using flashy ads or having a large budget is tough, takes time, but is defiantly possible to accomplish. Obviously doing it the easy way (money) will get your name out there faster and easier, but most people do not have that advantage. I am a true believer in have a combination of brand perception and brand experience and once you have brand experience, then comes brand perception. This day and age, social media has come so far and has helped so many people when helping building a brand to be more successful. Social media also can only take your business so far; it’s all about having the right idea and implementing it correctly.

I don't think you need the money or the flash. I think you need effort and smarts. Social media outlets like Facebook, LinkedIn, Twitter and Blogger are free. They are the first step to success in social media and branding. By engaging fans, and supporters, a company will develop "Brand experience". If you do it the right way, hopefully, "brand perception" will be positive.

I do not think it is required to build your brand through flashy ads etc., but I do think they can get your name out there in a way that just online platforms.  My family owns a small business, and our main advertisement is the label on our products. We have our products in stores all around Michigan and recently people have been calling our house asking about our products.  They enjoyed the products so much that they just had to get more.  We will never be in a place where we will get a TV ad or a celebrity endorsement, but we will still be able to get our name and products out in the world. 

I think that social media can be a very effective and in expensive form of brand building and brand engagement. I believe that social media needs a higher platform to work off of.  I think that social media is even more influential if there is a multi-million flashy TV advertisement to build off of.  When well executed, social media can be very engaging and influencing by engaging a wide range of audiences. It allows people a two way conversation with a brand. People are able to share, comment and follow their favorite brands. Social media provides a hand on experience for consumers with a brand which builds brand equity and creates a brand experience. You can build a brand on social media platforms but I believe it would take longer to reach a large number of online users. With a brand already established through other platforms and when a brand already has a well-known brand name it is easier to reach a wide range of online viewers more quickly.

Brand equity is a phrase used in the marketing industry which describes the value of having a well-known brand name, based on the idea that the owner of a well-known brand name can generate more money from products with that brand name than from products with a less well-known name, as consumers believe that a product with a well-known name is better than products with less well-known names. I think that social media platforms create a combination of Brand equity, Brand perception and brand experience. Social media platforms create a 360 degree experience for a brand. 

I don't think that successful brand-building necessarily requires multi-million dollar budgets, flashy tv ads, or celebrity endorsers.  I am inclined to agree with the article, however, that you can't build a successful brand only by using social media platforms such as Facebook or Twitter either.  I think that, again as the article mentions, that brand building strategies and a brand's social media strategies need to be intertwined.  Reasons cited for this were that in order for a brand to be successful, it needs to be trusted, remarkable, unmistakable, and essential.  This would be nearly impossible to accomplish strictly through social media channels, because communication is not scalable, messaging is often too fragmented, and the social strategy is only as good as the brand strategy that guides it. 

After concluding that a brand-building strategy and a brand's social media strategy must work together, it is easier to draw a similar conclusion about brand equity; that it is the combination, or sum of brand perception and brand experience.  When you think about it, they are both constantly having an effect on each other; brand perception prompts consumers to buy or not to buy, which results in a brand experience, which results in a modified brand perception.  This, along with all communication efforts, i.e. brand-building strategy and social media strategy, are what together make-up the concept known as "brand-building".

Social media has been a great tool for brand building, in that it is extremely less costly than any other type of branding strategy. Social media helps create brand equity, because it encompasses both elements: brand perception and brand experience. For instance, the way a social media outlet displays a particular brand, such as creating attractive images, help create a positive perception of the brand. Also, you can post a video on a brand's Facebook page of one's experiences with the brand. 

Whether building a brand needs a lot of money or not depends on the company behind the brand, if the company want the brand to go totally famous to the world, of course, you need to whole lot of money for this, but in my opion, when it comes to some small company, local buisness, or some brand which are just at the start point on the way to build a good brand, I don't see it is neccessary to spend a lot of money on it.

To me, building the sense of trust from customer is the most important step on building a successful brand.

Honestly this is what I love about social media and what is it doing in our society and our businesses now-a-days. You can build a company, a brand, a personality on social media. This is an amazing tool for PR reps now in terms of their clients as well! We now have so much more control of what is out in the media about us and our companies and brand. The way you can display yourself to the public on social media can eithe make your brand or ruin it, which is one of the resources I put on the class page this week, cleaning up your facebook. Social media has made building a brand more successful and has help with many companies' budgets. 

The ever evolving world of social media now gives brands the opportunity to reach a wide demographic and a large audiance within a smaller budget. I dont know if you could build a brand entirely through social media, but it is definetly a great starting point to get the word out and make people aware on a daily basis. Depending on the social media platform a brand chooses to use, it could have excellent results. After readig the article posted, it states that social engagement is nessecary, but it is not enough to soley build a brand alone. Brand equity can be built up and made stronger through social platforms, but the brand perception and brand experience both play a crucial role in the popularity and growth of a particular brand. I think each of the different aspects of a brand can be built up and made more effective through social platforms and it is a extremely beneficial tool that can be used. 

Social media has definitely presented a way for brands to build without spending lots of money. Traditional methods of brand building are still effective, but social media techniques are becoming just as critical. Developing a fan base online thru blogging or social networks can just as efffectively lead to a popular brand perception. Besides the need for expensive endorsements, social media is met with the same challenges as traditonal brand building. The brand must make sure their product stands out from the crowd.

I think that you can build a brand without big budgets and TV ads. If you target a small area or a small audience you can use mediums that encompass their interests that cost far less money. Brand equity, in my opinion, is mostly about brand perception. The more you see good things about a company or the more you see a company in general, the more likely people will perceive your company as a good or well known brand and spend more money. Brand experience is also important in keeping existing customers, but with brand perception can get a business more new customers.

I love the fact that social media has given a platform to companies with smaller budgets to get the recognition and build a loyal fan base. I agree with many of my classmates when I say that branding does not always take the largest budget or most known celebrity, but I will say it takes money (or an interested investor) to make money. While a comapny may see profits with an initial low brand equity it will not reach the audience it would if loyalty was expanded and tested in different markets. But with the immediate interaction with consumers that social media has created, feedback will often show were areas are lacking. Social media has created a relationship that people look to and most often trust. If a company like McDonald's takes the time to acknowledge a consumer issue it gains another layer of trust and expands the perception of the brand.

Building your brand and your company's brand is very important in order to make them stand out in this society. However, I don't think it will require you to invest multi-million dollar budgets to accomplish it. Indeed, there might be a large effect on your audience if you endorse the best looking celebrities on your ads. Do they have to be that famous though? I don't think so. In fact, a lot of famous ads like Nike's, adidas' and other sports brands' don't even invest that much money because it would be more effective if they just use ordinary people like us to encourage us to engage in physical activity while building their brand even bigger. Therefore, my answer is No, building a brand doesn't require multi-million dollar budgets.

Brand Perception is important for one company, even the company was collapsed someday in the fire, it can recover quickly because brand is part of equity. Loyalty is really hard to establish. Social media can help to accelerate the process.

Building brands doesn't require millions of dollars for flashy TV ads or any celebrity endorsements, because all you need to do is to follow what Huffington Post said in their article Increase Facebook Engagment: Tips for Brands, like sharing content outisde of regular business hours, writing shorter posts, picking the right day, and asking questions while using the right words. 

It's great that companies that have smaller budgets are able to better compete with the large dominating businesses. This helps level the playing field for companies. Reputation now plays a bigger role in the successfulness of a company. They are now held more accountable for their actions because social media provides a platform for consumers to provide feedback and communicate with one another. 

While I believe that you do not need flashy print ads, attractive models, and big, overdone commercials for your brand and/or product to achieve good social standing, I also do not believe that it hurts.  If you are a small, self-made entrepreneur it is going to take a lot of likes, shares, and blog posts to create a sufficient buzz about your product. Whereas if you have the means to execute an eye-catching campaign, or even outsource the job to someone with a creative idea that they think will spread like wildfire you most likely are going to have a easier time getting people to sample your product, blog about it, and immediately help you establish your brand perception and experience so that people trust you.

I believe that you do not need all of the fancy money and big ad firms to create a brand for yourself or your business. The way to create a good brand through your Twitter page or Facebook is just to know who you want to target and what message you want to be reached to them. Making a Twitter page for your brand and having the right hashtags or information to get retweeted is how branding yourself all starts. When it comes to Facebook you just need to form a common interest for people to actually go to your page and like it. It is not always about the money rather than knowledge when branding.

I believe that you do not need multi-million dollar budgets to advertise your product and create a brand. Nowadays, social media has become so useful that all brands, companys and products are being advertised daily on facebook, twitter etc. For example, I consistently see updates from various boutiques where I live on Facebook and I am able to see new clothing and jewlery from pictures on Facebook. Customers are able to click the "like" button when they are interested in a new piece and there is no need for celebrity endorsements or flashy tv ads. However, there are certain cases when high budgets are useful. Such as, I have started to use a certain face wash because one of my favorite celebrities was using it on a commercial. Therefor, yes it is easy to build a bran on Facebook and other social media platforms, yet there are times when million dollar budgets are quite useful depending on the product. I believe the "brand perception" is a combination of both how you perceieve the product, and how your friends have experienced the product. When purchasing a product I like to have outside viewers tell me whether they liked or not before buying it and the way the company advertises themselves or the product is also very important.

While it is important to have both new and traditional advertising in a brand building campaign, the marketers efforts can still be successful without relying too heavily on traditional media. There are many well known companies that invest very little in print, tv, and radio. Social media can't be a stand alone brand builder. But it can be utilized to enhance brand perception and brand experience. Social media should be, in its barest form, social. It should be a casual two way from of communication between the brand and the consumer. The atmosphere and brand persona you create on your social media platforms can help shape consumers perception of your brand. By commenting back or re-tweeting your loyal customers, you will deepen the connection they have with your brand. This form of communication is much more personal and resonating than tv commercials and print ads. Both brand perception and experience are components of a brand's total equity. I think that perception and experience can effect each other. What you think about a company may effect your experience. What you have experienced may effect your thoughts and feelings. The two concepts work together to form a more comprehensive overview of total equity.

Creating a brand image/perception is all about the content of what the company is offering and how they push it onto their intended target markets. It is not necessary for all brand to have large budgets and attention grabbing ads. Some of the best ways to get across to people now are through social media sites (and I don't mean by having an ad in the right corner). Companies can attract consumers by building profiles and engaging people in their work through words and pictures. People are nosy and like to know what is going on. They like to get personal with brands they find interesting. Social media allows brands to personalize themselves and build a image on a cheaper budget.

I think that building a brand is all about your target market. Are the people that you are targeting going to buy what you are selling? I think that a brand can easily be made on FB or twitter or any other social media platform as long as  you are targeting the type of people that use those media outlets. I think that Brand equity is all about brand perception and brand experience. If you perceive the brand to be one way and then don't have the same experience as what you thought it was going to be then you are less likely to stay brand loyal.

I believe that your target audience and the brand you are promoting leads to the campaigns that must be utilized. Social Media has been succesful at building new brands and improving brand awareness of brands for younger audiences. To succesfully use Social Media as a tool to improve ones brand equity, or brand perception, they must have a brand with products that appeal to younger generations and audiences. Yes, older generations are beginning to use social media tools but, not to the extent that younger generations do. A good example of using Social Media to build a brand would be the local Birmingham boutique Caruso Caruso. For locals, Caruse has been a staple and well known but, for someone like myself who is from out of State this amazing brand (they carry their own line) would have been virtually unknown if not for Social Media. The boutique has a twitter, facebook and instagram where they post information about new items, promotions, sales and store information. They use each of these sites to help build brand loyalty. They are fantastic about "retweeting" cutomer comments (I have been retweeted- comments and pictures- multiple times). It makes the experience more enjoyable which in turns changes my perception of the brand in a positive way. They also engage in other small scale advertising in the form of email and flyers. But, for the most part this brand does not shell out big bucks but, is still doing wodnerfully and growing. 

I think that it used to be that you had to have a multi-million dollar budget to be able to build a brand and promote it to the masses. Before the explosion of the internet and the branding and marketing that you are able to do online, you at first had to spend those millions of dollars on television advertising, radio, print media, etc. However now I believe that it is possible for a company to build a brand on social media sites such as Facebook, Twitter, LinkedIn, blogs, and many other forms of social media. The world has changed with the discovery and expansion of Digital Marketing and the internet.

I think you can build a brand by simply knowing your target audience. If you advertise to your specific target audience through relevant media you may not necessary need to spend the big bucks. So, as far as building a brand on Facebook and Twitter, it's completely possible and happening everyday. FB and twitter are presently, two of the most relevant and specific platforms in the industry. Although it may not be the most effective route for all company's and brands, with their recent progression in targeting specific demographics, it makes for an efficient and exciting new option. 

I can totally relate to this! My friend started a clothing line and instead of investing a ton of money for publicity and deal with store, he developed a facebook, twitter, and website for the brand. It blew up on many college campuses because so many people our age follow social media and shop online. The "Brand Experience" can be what the website and profiles portray. People can paint a vivid picture of their brand for all to see and it allows for consumers to have a fulfilled and hopefully positive experience!

Building a brand isn't about having the coolest celebrity endorsing your brand, or having the best advertisement money could buy. If you build a good product, people will come. The hard part is getting your name out there in the first place so people actually know your product exists. Creativity is huge when designing an ad, you can spend $10 and make a coold creative ad that everyone likes which could have the same effect as a million dollar ad from a larger company. No matter how much you spend on your ad, I think that it all comes down to the content. Is it what people want, or are you getting them to want it. Companies like Coke constatly have ads on TV and well everywhere you look, the reason is, their product is one out of a sea of many similar ones, where they want you to use it every day. Without the constant reminder of their brand, people might start noticing other brands more and start switching. Now a company like Adobe which has great design and development tools, people know their products are the best or close to, and they do very little advertising. However they are still number one when it comes to tools for the industry. 

Building a brand is tricky, but I believe that you can build a brand with a $0 budget, a $100 budget, or a multi-million dollar budget, it depends on how successfully you capture your audience in terms of advertising and marketing. I have seen many individuals build their own personal brand (successfully if I must add) through social media alone. A friend of mine promotes his photographhy through Facebook, Twitter, and Instagram, and he has clients nationwide. He has a modern brand, and he didn't need millions of dollars, TV ads, or celebrities to endorse himself, he had pure talent, which is the backbone of a good brand.

Brand building is a combination of both the Brand Perception and the Brand Experience. The perception is what draws you in. If a brand, such as the new iPhone, is seen as "cool" and "trendy" a lot of people will deviate to that brand above other smartphones. The Brand Experience, is fundamental, in that, it will determine whether the "brand" is seen as worthy of its perception. If it doesn't live up to the hype, the brand will fail in no time.

I think that building a brand with flashy tv ads and celebrity endorsements is different than building a brand with facebook and twitter. I get the feeling that using flashy tv ads sort of exemplifies that you have already made it and that it might do better at selling a more expensive higher line product. Using social media i believe is good for start up companies and you can defiantly still build a brand from it but it just comes across differently. The nice thing about social media outlets is that it allows for consumers to be more interactive with the company that they are looking into. 

Although social media is changing the way that brands are being experienced, they are not replacing all of the "flashy" adds and hip celebrities that are advertising them. Although these social media sites like twitter and facebook can build a larger trust in the consumers and users the majority of people are still reliant on the primary methods of paid advertising in television and radio to push their brand across the social media. This new trend that has began certainly does change the playing field though, since building a website or a page on FB doesn’t require the Millions of dollars that a commercial can. It can also give great feedback to consumers and can get your brand out on the market for next to no cost. 

Brand equity is defined as a company’s value of having a popular brand name.  Social media has a large effect on the value of a brand. Being active in different social media sites and updating regularly can build many followers and reach a lot of people. It can show what consumers are thinking about the company.

I think brand experience plays a huge roll in a brand. If a friend has a bad experience and you hear about it, you decide what you think of that brand and it can stick with you for life. Brand Perception also plays an important roll, first impressions are important and if they come off the wrong way you will always think badly of it. These two coexist with each other and aid in how we make brand decisions.  

By taking this course, we have all recognized how important social media is in building todays brands.  I think that for each individual, brand perception and brand experience are weighed differently when determining a brand's equity.  I know for myself that I am more about the brand experience, and I have friends who are more about brand perception.  By using social media, businesses can build a combination of the two to better reach their customers.

The multi media industry I believe is definitely the traditional way of creating a brand equity  but is defineitly more expensive than social media outlets. Using ourselves as an example many of us will pop in a google search no problem through our facebooks, linkedins and etc. but we do not pay tons of money to an ad agency to a television network to create our brand equities. The social media takes place over all of the mass media and makes marketing and branding a lot simpler and accessible to the average folk. 

Brand Equity is the monetary value the brand is worth to the company. What would McDonalds be without the golden archs? Would Nike be as globally recognized and desired without the swoosh? Equity is a combination of both the "Brand Experience" and "Brand Perception". A customer looking to buy a product relies on the perception of the brand. Obviously, they are more likely to buy the product if they perceive their brand in a good light. From there on it, it is up to the product to build the consumers experience with the brand in order retain that customer for future purchases. All in all, it is up to the perception of the brand for the initial purchase by the customer and the experience of the brand to retain the customer. 

Social Media is quickly becoming a necessity for brands rather than an option. It is something that creates a better connection between consumers and brands that has never been able to before. Brand equity can more easily be acheived this way. The immediate association between a brand and it's product category is something that can be put in people's minds via many media vehicles now, making the process of brand equity more efficient and successful.

Social media is no longer a strategically clever move for businesses, it is almost a requirement.  Personally, when I see a business with a weak online presence, it raises a red flag.  First of all, the online basics should be there (nice-looking, easily navigable website with contact information, etc.).  Next, some social media presence should exist (Facebook and Twitter at the very least).  That is my opinion. 

As a business, why would you not want to connect with your consumers directly, engage in conversation and receive feedback? What better way to build your brand and positon your company as you'd like in the minds of your audience?  And why would you not do something to better your business when you know your competition is doing it?!  Social media is free advertisement, but better.  And the standard is set- consumers want to see businesses on social media sites.  They want to "trust", "be nurtured" and "feel emotional connections" as stated in an article by Tracy Stokes about how social media is changing brand building.  It seems pertinant that businesses take advantage of the opportunities social media provides.   Engaging with consumers allows businesses to get one step closer to winning their hearts, minds, and above all, their brand loyalty.

To build a brand, you don't have to have millions of dollars or the best of the best advertisments. In the article it mentions that a brand cannot be built without using social media as a platform. That to me, is the most important aspect of brand building. It doesn't matter whether or not you tell lots of people or let them know of your brand, it matters if people are actually noticing and taking an interest in your brand. That is what builds brand equity. The article also mentions that forming a relationship and maintaining a relationship is a must. This is completely true; the relationship with the customer is one of the most important, if not the most important aspect of branding and getting your product out there. Both brand perception and brand experience play a role in forming brand equity.

Brand Equity is how much the brand is valued: this can be monetarily. Building a brand doesn’t require a multi-million dollar budget. It requires a smart plan. Knowing the brand, consumers and market is extremely important in order to effectively increase the value of the brand. Flashy TV ads might look great but unless it hooks in the consumers and shows them the value of a brand, it will not do anything.

Social media interaction with consumers is important to help build a brand. The brand includes customer service and making sure the consumer feels like they are important to that brand. A customer will not want to spend their time or money on a brand that does not reciprocate thanks or appreciation. The perception of the brand and the brand experience are both important. They go together because if one attribute fails miserably, the other attribute cannot solely make up for it. To successfuly build a brand with high equity, all attributes must contribute and compliment one another for the same end goal.

The original definition of Brand Equity may help us to understand what the brand equity is, and how to use it in marketing. Brand Equity is defined as "the differentiating effect of the brand knowledge on consumers' responses to the brand" in Kevin Lane Keller's book, "Strategic Brand Management: Building, Measuring, and Managing Brand Equity". In other words, if there is no change in behavioral responses, there is no change in the brand equity. In this sense, social media actually makes "brand equity" a more measurable, and thus, a more concrete concept than before. The rate of likes, shares, comments, and the valence of the comment (if there's sementic analysis) are useful indicators of these changes. What we need to do is to learn how to integrate them into the calculation of the brand equity in a meaningful way.

As described in Forrester's white paper, merely using social media is not sufficient for brand building. However, in my opinion, social media may be the place where we ultimately accumulate and leverage the outcome of our brand building efforts.

 Building a brand is about people's perceptions and emotional appeal. In the past, marketers have used forms of mass communication to build a brand. However, consumers are unlikely to form a connection to brand that doesn’t personally speak to them. Social media and new forms of digital marketing are effective ways to specifically target consumers, and bring out wider range of emotions to a particular brand. I don’t think huge, expensive marketing campaigns are useful, because they are unlikely to create a connection.

Nowadays, our society is in after advertising age. Unlike before advertising and during advertising age, people already had the high technique like social media to disseminate information, and people can make rational judgment because the education improvement. Social media becomes important because it is a great tool to enterprises to build reputation and influence of their brand, but it is also hard to enterprises because people was already tired of the dizzy advertisement and already had high discrimination, and it is hard to make people trust.

Social Media has to be one of the most powerful branding tools in the world. If a company fails to utilize such sites it will fall behind the companies that are using Social Media to expand and even broaden their Brand. Facebook cracked 1 Billion users earlier this month; it has a BILLION people on it. That is a huge pool of eyes and ears to access as a company. How can you not use Social Media to help your brand? All companies will have access to those people; it will just come down to which company uses social media more efficiently and consistently to improve their brand. Depending on how you use Facebook and Twitter, a brand can be built becuase of the number of people using Facebook and Twitter.