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5 Ways Influencer Marketing Can Benefit Small Businesses

Billion of people use social media globally, and it has become fast clear that one of the technologies defining our generation. Facebook states to have 2.38 billion monthly active users and 1.56 billion daily active users (Facebook, 2019). With 42.3% of the global population accounted for, the total number of social media users estimated to reach 3.29  billion in 2022 eMarketer, 2018. Given the enormous potential audience accessible who spends many hours a day on social media, it is not surprising that marketing teams of different companies have embraced social media as a marketing tool. One such very popular social media marketing strategy is influencer marketing. Under this type of marketing, "influencers—people with a sizable following on social media platforms—endorse a company's goods or services to their following. From a market worth of $1.7 billion in 2016 to $13.8 billion in 2021, influencer marketing has demonstrated amazing expansion over the previous six years (Maa...
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Key Economic Indicators to Watch for U.S. Businesses

Improved or developed. Additionally, it's crucial for the brand to convey that its stakeholders are invested in it. Without differentiation, a brand may face market factors including price competition and homogenous products (Aaker and Joachimsthaler, 2000). The authors created "the brand identity planning model" as a tool for understanding, developing, and applying brand identity concepts. The brand identity involves a strategic analysis and implementation system. The methodology consists of three "steps" to create a valid brand identity. This study will focus on the second phase (strategic identity system) of the model, while the first and second steps are beyond its scope. Keller suggests that establishing a brand identity is the first of four steps towards achieving brand equity.

According to Keller brand aspects serve to identify raise

Awareness, and create unique associations that differentiate the brand. Brand aspects define a brand's visual identity. Key brand aspects include logos, names, slogans, and brand tales. Kotler and Pfoertsch (2006) suggest that the visual identity reflects the underlying brand identity and should be carefully controlled to ensure consistency and sustainability. Keller (2008) splits six general requirements for brand aspects into two categories. Brand elements can play aggressive or defensive roles, each with unique strengths and weaknesses. To increase brand equity on the offensive side, brand aspects should be distinctive, original, and easy to recall. Second, brand aspects should be significant to support descriptive and convincing content. Descriptive meaning refers to customers' capacity to recognize and identify the appropriate product category. Therefore, the descriptive dimension influences brand awareness. Persuasive branding elements shape brand image and positioning. According to Keller (2008), the final offensive factor is likability, which takes into account aesthetic appeals such as brand style and motifs. To retain brand equity on the defensive side, make brand aspects transportable. Logos and symbols are commonly used to establish a company's brand identity. Logos and symbols are characteristics used to identify and distinguish a product. Keller (2003) found that customers may recognize symbols but not associate them with specific brands or products. Logos enhance brand equity by increasing recognition and loyalty to the brand. Companies invest significant resources in promoting their brand logos and emblems (Kapferer, 2008). Using logos and symbols can improve your brand's awareness among customers. Logos and symbols can effectively differentiate brands that have many characteristics.

Slogans are short statements that provide descriptive information about a brand

Slogans can influence future marketing strategies, profit targets, and territorial saturation (Shafer, Smith, & Linder, 2005). Product attributes are unique properties of a raw material or completed product that distinguish it from others. According to Semejin, Van Riel, and Ambrosini (2004), attributes such as size, color, functionality, components, and features impact a product's marketability. According to Garvin (1984), product quality refers to the traits and attributes that make a product desirable and may be controlled by the maker to satisfy specific standards. Product consumers are those who use a specific product (Von Hippel, 1986). A product user who is also an endorser is frequently desired. An endorsement is a testimonial from someone who likes or approves a product. Product endorsements by socially important individuals enable corporations to sell their products with phrases like "as used by such-and-such an actress," or "the official product of company/event X." Product endorsements are prominently displayed on packaging and marketing, ensuring their visibility to the general public.Research indicates that customers consider country of origin when evaluating items (Han, 1989). Bilkey and Nes (1982) found inconsistent results on how consumers use country of origin information to evaluate items. According to Han (1989) and Maheswaran (1994), customers consider nation of origin as a stereotype when evaluating products. Stereotypical structures, while biased, can provide clarity, predictability, and coherence in complicated decision-making (Taylor, 1981). 

Chao Wuhrer and Werani discovered that using a foreign brand nam

Decreased perceived quality and purchasing intentions, which they attributed to ethnocentrism. According to Yasin, Noor, and Mohamad (2007), place of origin can impact brand equity by influencing perceived quality and associations with the brand. The relationship between a country's image and purchasing behavior is stronger when it aligns with key product characteristics. The study examined the relationship between product-country match (Roth and Romeo, 1992) and product ethnicity (Usunier and Cestre, 2007), and found that consumers are more likely to purchase products with such matches. Country of origin information has a significant impact on advertising, packaging, and marketing campaigns. A brand not only operates on the market, but also organizes it based on a clear vision of the category's future. Slogans can leverage the brand name to increase awareness and image. According to Kapferer (2008), packaging contributes significantly to brand equity.Color has a crucial role in establishing and maintaining brand and company image in customers' thoughts (Kapferer, 2008). According to Schmitt and Pan (1994), color has a significant role in business branding, including logos, packages, and displays. Cooper (1994) found that color, along with price and quality, is one of the top three factors in car purchasing decisions. Consumers recognize brands based on color cues. Color can help identify soft drink brands (Kapferer, 2008). 7-up is green, Coke is red, and Pepsi is blue (tom and barnett, 1987). According to Grimes and Doole (1998), color may effectively create brand identification and awareness globally.

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