Knowing what ROB is is essential if you really want to know how successful your brand is. The acronym ROB responds to the term in English “Return of Brand” . Usually the custom is to read about ROI . But ROB is of increasing importance in the financial return of an organization. The ROI concept focuses on return on investment. It is the economic result generated by the different marketing activities. The ROB, for its part, takes care of a dimension of the brand that goes far beyond the economic. Defining a bit more in detail what the ROB is, it can be said that it is a much easier concept to measure and improve. The return on brand or ROB mainly affects the business process. Knowing what ROB is is important because, ultimately, it is the value of the brand itself . It is about the seemingly intangible. But this aspect of digital marketing also has value, an economic return in the long run. Learn what ROB is in brand building Return on Brand To know what ROB is, it is important to know what brands are built on . Which has to do with many factors. One of the main ones is that it is built through interaction with your organization . Uganda Phone Number List But also managing that interaction and the customer’s experience are key elements in brand building. To better understand how it works and what ROB is, an example of Adidas shoes can be used. As you know, there are sports models that can cost € 500.
It is almost certain that the reason for buying a shoe with this price is its value as a brand, since there are other much cheaper options with the same quality of material. Adidas couldn’t sell a shoe like that if it weren’t for their brand equity. Uganda Phone Number List This is the return of the brand. This concept creates a universe of added values around the product. This world of intangibles makes the product attractive enough so that the product is paid for its added value. Knowing what ROB is offers a clearer view of what a product is really worth, which is not just its economic value. They are all those values, ideas or ways of life that are associated with the brand. The price is only the consequence of that brand retuThe key to generating a ROB and for it to increase over time is to build a solid brand for the product or service. A key element in measuring ROB is the impact of brand equity on the performance of marketing actions . Brand equity is a set of assets or liabilities. These elements are built through branding and brand image. Its result is to create affinity and connection between the brand and consumers, generating customer loyalty. Branding efficiency will add or detract from the current product or service and the ROB. For this reason, brand building is key in the management, not only of marketing, but also of the commercial strategy of any company.
Recognition of brand equity In the late 1980s, brand equity helped create and support the idea that brands are assets that drive business performance over time. That idea made it necessary to consider what marketing does, who does it and what role it plays in commercial strategy. Brand equity also altered the perception of the brand by showing that a branding strategy is not only a tactical aid to generate sales in the short term . This value also represents a strategic support that will add long-term value to the organization.