One of the fastest growing firms, in terms of its brand equity, in recent years has been Apple. Identify the factors on both lists and has contributed to the increase in its brand equity and the benefits they have gained from this increased position in the marketplace

List 01: Factors that may contribute to the building of strong brand equity:

Product range, Relative product quality, Points of differentiation, Retailers used, Retailer prominence, CEO profile, Media, Word-of-mouth, Use of celebrity’s Other brand associations Visibility of the product Social media ‘connection’ Social ‘status’ of the product Entertainment or self-identity product Market share (extent of popularity)

Perceived innovation Perceived integrity Success of new products Sales + service staff Target markets Market coverage (global?) Time in market Competitive set B2C or B2B only Social responsibility Competitor’s actions Employee behavior

List 02: Potential benefits that may be gained from strong brand equity:

Increased sales Price premium Customer loyalty WOM and promoters Perceived popularity and real visibility More effective social media Mainstream media attention Retailer appeal Point-of-sale merchandise uptake Supplier bargaining power Staff recruitment and retention  More energetic corporate culture More skills and resources and capabilities New product success More product line extensions Easier market development Strategic alliances More efficient marketing spend Significant competitive advantage Reduces threat of new entrants Increased profits and stability of cash flows Borrowing/capital raising Stable cash flow and easier planning Economies of scale Improved price/earnings ratio 

Q.2b. One of the fastest growing firms, in terms of its brand equity, in recent years has been Apple. Identify the factors on both lists and has contributed to the increase in its brand equity and the benefits they have gained from this increased position in the marketplace