In the structure of intellectual capital, the company's image is part of the brand. Brand creates long-term value, the loyalty of...
In the structure of intellectual capital, the company's image is part of the brand. Brand creates long-term value, the loyalty of existing customers, attracting new customers. While production of the product requires material components, building brands requires intellectual capital expressed through knowledge of human capital.
In order to understand the role and importance of the brand, it is necessary to take into account the necessity of building a relationship with consumers, who are exposed to a number of incentives. For achieving satisfaction and loyalty, trademark should evoke feelings of consumers, experienced value and quality. Successful trademark means a strong connection with consumers, that affects their lives, and sometimes it affects the image of the consumer. At the same time it helps to build the image and reputation of the company.
Family business in the early stages of market penetration should pay special attention in proccess of building relationships with consumers and presenting the values of the company, as well as building business networks. The penetration of the broader market is in familiy business more difficult than in other forms of business. Depending on the type of business, family business can effectively use B2C model, and make the best mix of intellectual capital in order to not only survive, but also to expand their business.