What Challenges Do Business Leaders Face in Building Brand Equity?
Building and maintaining brand equity is not without challenges. Common obstacles include:
- Market Competition: A highly competitive market can make it difficult to stand out. - Changing Consumer Preferences: Keeping up with evolving consumer tastes and preferences requires constant innovation. - Brand Dilution: Expanding into too many product categories can dilute the brand’s identity. - Negative Publicity: Handling crises and negative publicity effectively is essential to protect brand equity.