Startup Funding Espresso -- Brand Equity
Brand Equity Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing. Brand equity is the value that comes from customer recognition of the brand. Startups with brand equity command a higher price for the product and differentiate from the competition. Here are the key elements of brand equity: Brand recognition Customers recognize the visual identity of the brand and value it. This differentiates your startup from the competition and reduces the cost of acquiring new business. Brand perception Customers understand what your startup does based on the brand. Customers are aware of your promise, values, and mission. Brand image The brand generates an emotion when customers see the image. It is the emotional component of the brand that connects with the customer. Brand value The brand stands for quality and helps the customer justify the cost of the product. It is the logical component of the brand. Brand equity impacts a startup's financial performance including revenue, cost of sales, and profitability. Other benefits include lowering the cost of launching a new product, upselling and cross-selling, and lowering churn. \xa0 Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding. Let\u2019s go startup something today. _______________________________________________________ For more episodes from Investor Connect, please visit the site at: \xa0 Check out our other podcasts here: \xa0 For Investors check out: \xa0 For Startups check out: \xa0 For eGuides check out: \xa0 For upcoming Events, check out \xa0\xa0 For Feedback please contact info@tencapital.group\xa0\xa0\xa0 Please , share, and leave a review. Music courtesy of .