Building and properly managing brand equity is a priority for many businesses. The building brand equity requires internal brand identity efforts, and then, integration of brand identities into the firm’s overall marketing programs, such as product, price, advertising, promotion, and distribution decisions.
Furthermore, there is the point that the strength of the firm’s brand equity from communications depends on how well the brand identities are integrated into the supporting marketing programs. In addition, experts call for effective strategies for integrating marketing communications in building and maintaining brand equity. How does IMC contribute to a firm’s brand equity? It conceptualizes the effects of integrated marketing communication in terms of”contacts.” A contact is any information-bearing experience that a customer or prospect has with the brand, including word of mouth and the experience of using the product. All of these contacts with customers can potentially influence the firm’s brand equity. The brand through marketer-controlled communication includes media advertising, direct response and interactive advertising, place advertising, point-of-purchase advertising, trade promotions,consumer promotions and event marketing and sponsorship. The traditional communication process which depicts the flow of messages from senders to receivers via elements such as encoding, media, and decoding, has undergone noticeable changes and has evolved into a more interactive and dynamic process. Brand equity contacts are all marketer-sponsored interactions concerning the brand between brand stewards and customers, prospects, and publics that are intended to create or maintain strong and highly favorable associations.
There are two interfaces that fall within the purview of the firm’s overall brand equity strategy the interface between the firm’s IMC strategy and brand equity, and the interface between the firm’s brand identity strategy and IMC strategy.