Brand Competitiveness Based On Driving Factors Of Brand Equity

People often use the value of the Brand assets to evaluate the brand of the company, but rarely use the brand competitiveness to evaluate the brand. However, as the Brand Equity, Brand Competitiveness is critical in business and a key indicator for firms to obtain customers and evaluate consumer resources in the market.. And also, Brand Competitiveness focuses more on relative competitive ability of the brand in the external market, so having more intuitive and comparability. Businesses usually use brand assets to evaluate the enterprise value of the brand. Therefore, to study how to improve brand competitiveness, we must first reveal the intrinsic association between the brand equity and Brand Competitiveness. Dynamic competition theory suggests that the effectiveness of competition strategy is manifested in the reaction of competitors and the ability of changing requirements or competition rules.Therefore, when studying the brand competitiveness based on the driving factors of brand equity, understand the contribution of each factor Is an important prerequisite of allocating efficient resources and improve brand competitiveness. In this context, the paper starts from analyzing the way that each factor of brand equity's affects the competitiveness of the brand and its mechanism. It makes a multi-angle study of the transformation mechanism of brand assets into brand competitiveness and constructs a Flywheel model of brand competition based driving factors of brand equity. Results of this study will help brand managers to manage and operate the brand better, change the configuration of elements of brand equity to diversify and flexibly improve enterprise competitiveness in the dynamic and competitive environment, continue to achieve brand value and enhance firm competitiveness, provide a new theoretical basis and a operating mode for Business to enhance their companies'competitiveness.