And a businessneeds a
customer basedbrand equityCBBE model
which provides ayardstick
An insurance companyalso needs to have a
clear vision of Customerbased brand equity
pyramid.
It looks somethinglike this
BRANDEQUITY
PYRAMID
Consumerbrand
resonance
Customerjudgments +ConsumerFeelings
Brand performance+ Brand Imagery
Brand Saliance
Brand Performance +Imagery
Consumers experiencewith a brand
how people think about a brandabstractly rather than what they
think the brand actually does.
Customer judgments +Feelings
What the customerthinks of your brand
Customers’ emotional responsesand reactions with respect to the
brand
ConsumerBrand
resonance
The extent to which they feel thatthey are “in synch” with the
brand.
The insurance industry is highlyfragmented
Because...
often difficult to understand fora potential client.
While there is high behavioralloyalty, there is low attitudinal
loyalty.
Also Because...
Consumers generally have a lowemotional connection to
insurance brands.
And Because...
Consumers find it hard todifferentiate between two given
insurance companies
Finally Because...
Can an insurancecompany provide solid brand
points of differentiation?Let us help you there
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