Please explain the inherent difficulties involved with developing, establishing, and maintaining brand identity and image for retailers and manufacturers.
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It is very difficult to build up a brand’s image and then to maintain it. This is because of the amount of competition that there typically is for a given brand and because of all the things that can go wrong with a brand’s image.
Developing and establishing a brand’s image is largely difficult because of the fact that there tends to be a great deal of competition in the market. As your brand is trying to establish a certain image, other brands might be trying to establish that same image. Your brand will have to compete with them. It will have to manage (through such things as superior quality and superior marketing) to defeat the other brands to establish itself as the owner of a given image.
Maintaining a brand’s image is difficult because of the competition from other brands and because of how hard it can be to avoid problems that will harm the brand’s image. For example, a brand like Nike can lose credibility if its endorsers end up in legal trouble. A brand can have its image tarnished if factories that it uses in places like Bangladesh have disasters or are found to engage in questionable labor practices. These things and many more can harm a brand’s image even after it has been established.
Thus, competition and the variety of things that can harm a brand’s image make it hard to develop and maintain brand equity.
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