Leveraging secondary brand associations is a way of associating with another entity or brand to help you build brand equity, expand into new markets, and attract new customers.
As a business owner, you are always looking for ways to gain an edge over the competition. Leveraging secondary brand associations is one way to do just that. Secondary brand associations are the perceptions and emotions that people associate with a brand, in addition to its core offerings.
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What is Leveraging Secondary Brand Associations?
Leveraging secondary brand associations is a method to increase brand awareness and brand equity by partnering with or investing in other companies or entities that have a strong brand, so you can tap into their customer base and increase your visibility.
By Leveraging secondary brand associations, you can tap into the positive emotions and perceptions that people already have about a brand, and use them to your advantage. For example, if you own a sports store, you could Leverage Nike’s associations with success and excellence to attract customers.
For example, when people think of Nike, they not only think of athletic shoes, but also of success, determination, and excellence.
There are a few ways of leveraging secondary brand association:
- Use the brand’s name or logo in your marketing and advertising materials.
- Associate your products or services with the brand. For example, if you sell athletic gear, you could partner with Nike to offer exclusive products or discounts.
- Leverage the brand’s reputation to build trust with your customers. For example, you could highlight Nike’s reputation for quality in your marketing materials.
Leveraging secondary brand associations can be a powerful way to improve your business’s image and attract new customers. When done correctly, it can give you a significant advantage over your competition.
Importance of Leveraging Secondary Brand Associations
Consumers may understand a brand better if it has relationships with other entities, which can be communicated to them through linkages.
If a company is linked with favorable entities, consumers might assume the company possesses some of the same positive traits.
The brand uses preexisting associations and goodwill to improve its image. Building equity indirectly means taking advantage of positive sentiment toward associated products, ideas, or entities.
As a business owner, you can use secondary brand knowledge of brand associations to your advantage for many reasons-
1. For improving the perception of the brand
First, you can use them to improve the perception of your brand. If people associate your corporate brand elements with positive attributes of the existing brand, they are more likely to have a favorable view of it.
2. For targeting new markets
Second, you can use secondary brand associations to target new markets. If you can identify a group of people who associate your brand with a particular attribute, you can then target your marketing efforts at them specifically. This is an effective way to reach new customers who might not have considered your brand.
3. For differentiating your brand
Third, you can use secondary brand associations to differentiate your brand from the competition. If people perceive your brand as being different from others in a positive way, they are more likely to choose it over the alternatives.
Strategic brand management by leveraging secondary brand associations can be a powerful tool for any business owner. If you can identify the associations that people have with your brand, you can use them to your advantage in several ways.
Strategies used for Secondary Brand Associations
There are a few key strategies that you can use to Leverage secondary brand associations
1. Brand Building for Brand Extension
Leveraging a secondary brand association can help you build your brand image and extend it into new products or markets. For example, if you sell athletic gear, you could partner with Nike to offer exclusive products or discounts. This would give you a chance to reach Nike’s customer base and promote your brand to them.
2. Combining an Existing Brand with a New One
You can also leverage secondary associations by combining an existing brand with a new one. For example, you could create a new line of products that are only available through your store and Samsung’s website. This would give you a chance to reach Samsung’s customer base and promote your brand to them.
3. Countries and Other Geographical Areas
You can also Leverage a secondary brand association by targeting specific countries or geographical areas. For example, if you sell products that are only available in the United States, you could partner with a company that sells products in Canada. You would have the ability to reach out to customers in Canada and promote your brand simultaneously.
4. Cobranding
You can also Leverage a secondary brand association by cobranding. Co-branding is when two or more brands team up to offer a product or service. For example, you could team up with Coca-Cola to offer a co-branded product. You would have the chance to reach out to Coca-Cola’s customer base, promoting your brand in the process.
5. Channels of Distribution
You can also Leverage a secondary brand association by using different channels of distribution. For example, you could sell your products through Amazon’s website. If you did this, you would be able to reach Amazon’s customer base and promote your brand.
6. Licensing
You can also Leverage a secondary brand association by licensing. Licensing is when you allow another company to use your brand in its product. For example, you could license your brand to be used on a new line of products from Samsung. By partnering with Samsung, you would be able to tap into their customer base and expand the visibility of your own brand.
7. Spokespersons
You can also Leverage a secondary brand association by using spokespersons. A spokesperson is a person who represents your brand and speaks on its behalf. For example, you could use a celebrity to endorse your products. You would have the opportunity to market your company to its fans if you worked with them.
8. Third-Party Resources
You can also Leverage a secondary brand association by using third-party resources. Third-party resources are companies or services that are not affiliated with your brand but can still help you promote it. For example, you could use a review site to promote your products. Reaching out to potential customers is a great way to promote your brand.
9. Events
In addition to promoting your brand, holding events is also a great way to attract new customers. For example, you could hold a contest and give away products from your store. This would give people the chance to learn about your brand and try your products. Leveraging a secondary brand association can help you attract new customers and promote your brand.
Conclusion
Leveraging secondary brand associations can be an effective way to transfer knowledge about a brand and create new marketing strategies to optimize the presence of a new brand.
By understanding how customers perceive existing brands, companies can create a brand positioning that will allow them to stand out in the market. However, it is important to consider how existing associations may impact customers’ perceptions of the brand before using this strategy.
If you have strong brand equity, you may be able to extend your brand to new products or services. Leveraging secondary brand associations can help create marketing strategies for these new offerings.
When considering how to Leverage secondary brand associations, it is important to understand how customers perceive your brand about other brands. If you have strong brand equity, it is easier to Leverage secondary brand associations. You can use this strategy to create marketing strategies for new products or services.
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