APPLE’S BRAND EQUITY 2
Developing a Brand Strategy: Apple
Importance of Brand Equity
Not everyone is instinctively conscious of their brand. The most well-known brands
invest millions of dollars to promote their names to consumers, and with good cause. Purchasing
from a brand one is familiar with increases consumer likelihood. The things that are sold under
the brand have greater worth just by virtue of their recognition. Being more conscious of things
causes you to become more visible and familiar, which acts as a foundation for further good
associations (Lucente, 2022). There are clear advantages to building brand equity, but achieving
and sustaining it takes a lot of effort and research. Assessing the demands and values of the target
market is the first step towards determining what makes a company's brand distinctive (Budac &
Baltador, 2013). As business expands, companies will need to continue raising awareness in
order to attract new clients and cultivate a sense of loyalty from current ones.
Sources of Brand Equity
The model of brand equity comprises five distinct assets. These assets included perceived
quality, brand association, brand awareness, brand loyalty, and other unique brand assets like
channel partnerships, patents, and trademarks (Bimo, 2021). Customer-based brand equity is
achieved when consumers have high awareness and familiarity with a brand, with strong,
favorable, and unique associations in their memory. Brand equity is determined by the strength,
favorability, and uniqueness of these associations. Marketers must convince consumers that there
are meaningful differences among brands and establish a positive brand image in consumer
memory (Keller & Swaminathan, 2020). The relationship you have with your customers or
clients is characterized by your brand resonance. Because you can't build a relationship with
APPLE’S BRAND EQUITY 3
customers if they don't know who you are, you need to increase brand awareness. Because brand
equity indicates that your clients appreciate who you are, you want it. Repeat business from your
clients is a sign of brand loyalty (Husain et al., 2022).
Apple’s Brand Equity
Apple is an instantly identifiable brand. It is renowned for creating products that
customers wait in line to buy and has maintained its esteemed position in the industry for
decades. Customers are therefore prepared to shell out astronomical sums of money for the
luxury brand. Are Apple items better than similar products from competitors? Perhaps not, but
that's how the company's devoted clientele sees them. After all, there are two well-recognized
operating systems for contemporary mobile devices: iOS and Android. While millions of
different businesses use Android OS, Apple developed and created the iOS operating system to
be used in Apple products. Apple is unique in its own right because of this characteristic
(Lucente, 2022).
The most valuable and well-known corporation in the world is Apple (Hohne & Wood,
2024). With a USD 2,252 billion market capitalization in 2021, Apple has the largest market
capitalization globally. For comparison's sake, Apple would rank eighth globally in terms of
GDP, surpassing both Italy and Russia. Furthermore, according to Interbrand, Apple will be the
most successful company in 2020. According to Interbrand, Apple's brand value is USD 323
million, up 38% from 2019. The reason Apple has such a strong brand is that it has gradually
increased its brand equity (Bimo, 2021).
Apple’s Brand Awareness
APPLE’S BRAND EQUITY 4
Marketing experts concur that customer experiences and feelings have a greater impact
on Apple's brand awareness than the company's MacBook or iPhone products. Apple is a brand
that values imagination, creativity, innovation, and design. Since Apple sells experiences, the
company attracts recurring business. Because Apple users adore their goods, they foster
community and independent thought, which strengthens relationships and fosters loyalty.
Customers keep coming back because of the genuine connection (Galassi, 2022). Apple's brand
personality emphasizes lifestyle, creativity, freedom, passion, aspirations, and technology
empowerment. It emphasizes people-driven product design, humanistic corporation, and
simplicity, aiming to remove complications from people's lives.
Apple’s Brand Loyalty
In 2021, Apple's brand loyalty rate of 90.5% demonstrated the strong bond and steadfast
dedication that customers have for the company (Gallagher, 2022). Apple's consumer behavior
marketing strategy and significant innovations have helped it maintain its position as the most
successful brand in the world, even though it wasn't the first to create personal computers,
tablets, smartphones, or portable music players. By adapting to market shifts while preserving
the appearance, tenor, and essence of its brand message, Apple stays consistent. A recognizable
experience is provided across all touchpoints and channels, thanks to the maintenance of this
uniformity across all marketing channels. The secret to Apple's success in keeping its current
clientele is its ability to foster loyalty, which is harder to do than bringing in new ones. The
company's success is attributed to its capacity to remain memorable to contemporary clients.
Apple’s Brand Association
APPLE’S BRAND EQUITY 5
The Apple brand evokes a variety of feelings, things, and experiences in people.
Innovation, product design, quality, user experience, and status are some of the major aspects of
Apple’s brand association. Innovation: When it comes to technology, Apple has always been at
the forefront. Apple has consistently introduced innovative goods to the market, starting with the
original Macintosh computer and continuing with the iPhone, iPod, and iPad. One of the main
associations that consumers have with Apple is this invention, which is an essential component
of the brand's identity. Design: Apple has developed a reputation for producing devices with
sophisticated yet understated designs. People can instantly recognize the unique look and feel of
Apple goods because of features like the rounded corners of the iPhone and the MacBook's clean
lines.
Quality: Apple products are held in great regard due to their unparalleled credibility and
quality. renowned for their dependability and superior quality. The company has established a
solid reputation for creating well-made, long-lasting items. People thus identify Apple with
excellence and reliability. User Experience: Apple is renowned for producing devices that are
simple to use and intuitive. Easy-to-use and easily understood items have always been a top
priority for the brand. People consequently identify Apple with a satisfying user experience.
Status: People frequently view Apple products as status symbols. The brand's high-end cost and
elegant design have made many customers want Apple items. As a result, Apple is frequently
linked to grandeur and luxury.
Recommendations
Although Apple has achieved an immense amount of success, there are still ways to
improve, and there will always be room for improvement. For starters, the company's premium
pricing strategy has led to a decrease in popularity among consumers with moderate incomes.
APPLE’S BRAND EQUITY 6
After two to three years, some consumers switch to previous models, shrinking the market for
new products. To increase its customer base, the company could offer reasonably priced products
for low to moderate incomes. The company should also consider societal dynamics and match its
products with current trends, such as the economy, declining income, and rising costs. Targeting
seniors who have more free time can help increase their market share. Advertisements for phones
targeting elderly consumers should focus on these features.
APPLE’S BRAND EQUITY 7
References
Bimo, D. (2021, July 12).IWhat is Brand Equity and Why It’s Important. Medium.
https://bimodew.medium.com/what-is-brand-equity-and-why-its-important-
107e56eadcdc
Budac, C., & Baltador, L. (2013). The Value of Brand Equity.IProcedia Economics and
Finance,I6, 444–448. https://doi.org/10.1016/s2212-5671(13)00161-5
Galassi, D. (2022, February 21).IApple, Inc and Public Brand Perception. Blue Zenith Design +
Strategy. https://bluezenith.com/2022/02/apple-inc-public-brand-perception/
Gallagher, D. (2022, December 21).IApple may Face Greatest Loyalty Test Yet. WSJ; The Wall
Street Journal. https://www.wsj.com/articles/apple-may-face-greatest-loyalty-test-yet-
11671595466
Hohne, J., & Wood, R. (2024, January 24).ITop 10 most valuable companies in the world. 9
News. https://www.9news.com.au/finance/top-10-most-valuable-companies-in-the-
world-by-market-capitalisation/1ec0e8cf-e055-4010-bb62-2a6739685b08
Husain, R., Paul, J., & Koles, B. (2022). The role of brand experience, brand resonance and
brand trust in luxury consumption.IJournal of Retailing and Consumer Services,I66,
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Keller, K. L., & Swaminathan, V. (2020).IStrategic Brand Management: Building, Measuring,
and Managing Brand equity.I(5th ed.). Pearson.
Lucente, K. (2022).ICouncil Post: Brand equity and why it matters. Forbes.
https://www.forbes.com/sites/forbesagencycouncil/2022/04/26/brand-equity-and-why-it-
matters/?sh=475a2e6c2e5d
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