What is Brand Equity? Why is it Important? Brand Equity almost refers to the reputation of a brand built on customers’ perceptions. Confirmation bias says that people interpret information in a way that confirms their own perceptions. So, a strong Brand Equity brings critical advantages for brands and businesses. Loyalty advantage: Customers will trust you...
What is the Diffusion of Innovation Theory? Diffusion of Innovation Theory explains the impressions of emerging new ideas, lifestyles, and technologies on people. Besides, it analyzes the adaptation process of people to these ideas and how these ideas spread. According to the theory, 4 different elements affect the spread of innovations: Innovation – the thought,...
In our previous articles, we emphasized the importance of understanding your customers to put your brand in a unique position. Customer Journey allows you to understand what customers experience and feel while interacting with your brand. Empathy Mapping helps you understand what your customers are feeling, thinking, doing, and saying. In this article, we will...
What is a Customer Journey? The customer journey is the name given to all the customers’ experiences in interacting with your brand. The customer journey is not just about purchasing your product/service. It lists all the steps that customers take when they interact with your brand. Getting aware of your brand’s existence, interacting with your...
In our previous articles, we emphasized the importance of rich customer insights and mentioned some tools which are used to achieve them: Six Paths Framework, Three Tiers of Non-customers, and Customer Journey. In all these tools, the key point is putting yourself in your customers’ shoes and thinking from their perspective. These remind us of...
The Six Paths Framework of The Blue Ocean Strategy In our previous articles, we emphasized the importance of rich customer insights to create a new market. Rich customer insights allow us to make competition irrelevant by answering 4 questions: Which factors that the industry has long competed on should be eliminated? Which factor should be...
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