THE BODY SHOP- BRAND ANALYSIS
Brand Equity Analysis
Brand equity is the value premium or excess revenue that a company generates from a product with a recognizable brand name as compared to its generic equivalent. Companies can create brand equity for their products by making them memorable, easily recognizable and superior in quality and reliability.
The additional money that consumers are willing to spend to buy The Body Shop products rather then buying other cheap substitutes is an example of brand equity.
The Body Shop has established its brand equity by making sure that its products are cruelty free and by instilling this in the mind of their target market.
The most important factor of its marketing is that they make sure that everyone knows its values, which include the following:
- Against animal testing
- Support community fair trade
- Support building of self-esteem
- Defend human rights
- Protect the planet
Even thought The Body Shop’s products have superior quality and are mostly all-natural with minimal amount of chemicals are used, still according to a resent survey only 33% of the body shop users responded that they are loyal to The Body Shop for its high quality products while the 77% people said that they are loyal to the brand because of what it’s values. Recently they have donated to deserving IDP. Therefore it would not be wrong to assume that their values and quality compromise a large portion of their brand equity.
In addition to this, The Body Shop has its stores in key locations like Jinnah Super, F10 market, Safa Gold mall and The Cantarurus mall. Secondly their staff is always very helpful, if u ask them they tell you as well as show you how to use the product. In addition to this, in their outlets a person can use the products and when he or she is satisfied then they can buy the product. This can be said for the other makeup brands present in Pakistan.
One of the features which usually people usually like about The Body Shop is that they have wide range of products so a person can buy products from skincare to perfumers to cosmetics under one roof. Moreover, in their outlet skincare products are usually color coded and arranged in an orderly manner so its not difficult to chose, this again cannot be said for the other brands.
The Body shop promotes its products through social media particularly by using Face book. They give their customers their magazine with all of their products so they can go through it in their spare time, due to this customers come back to buy more products if they find any product to their liking. Moreover, they sponsor and organize events events. They have special limited edition signature celebrity makeup editions. They sponsored he premier of the movie Jalebee and held a fashion show recently in Islamabad. They have discounts on special occasions and they also offer gift bags.
Many people who have sensitive skin prefer to use The Body Shop product as they are naturally made thus they do not cause irritation and inflammation on the skin. Another factor in brand loyality towards The Body Shop is that people do not feel guilty in buying their products as they are aware that they are not mistreating people, animals or the earth in general in making their products which cannot be said for a lot of other huge brands.
CUSTOMER BASED BRAND EQUITY MODEL ANALYSIS
Is Body Shop A strong Brand?
The name as well as the sign of The Body Shop is easy to recognize and recall. When we think about skincare, makeup or perfumes body shop name immediately comes to the mind of their target market, which is the upper middle class as well as the rich people in Pakistan, therefore it would not be wrong to say that the body shop has built strength and clarity of category membership. Their target market usually takes body shop into purchase consideration as some even take it into consumption consideration.
Body shop products are reliable and effective. They target those people who want natural products of the best quality. Moreover who want to make sure that in making of the product no one is harmed. The Body shops value portrays sincerity, competence and excitement for its users. They are creating memories for those people who attend their events like their fashion shows, furthermore, many people give body shop’s products as gifts on memorable occasions hence they are creating nostalgic moments for the people who give as well as receive their gift packs on special occasions, like Mother’s day, Father’s day, Valentine's Day, Weddings and Eid.
The Body Shop products provide brand quality; they provide value as well as satisfaction for their customers. It has established its credibility, that is its customers like as well as trust the brand. It has brand consideration as well as brand superiority. That’s it is different from other brands due to its spatiality in natural products, quality as well as its values.
Body shop products can be associated with warmth, self respect, and social approval. Body shop has behavioral loyalty as well as attitudinal attachment of its customers. The Body Shop customers love the brand as whole, its quality, its values and what it stands for and they are proud of the brand.