STRATEGY TO DEVELOP BRAND IMAGE VALUE FOR AN ESCO’S BUSINESS GROWTH

Abstract

Energy service companies (ESCOs) are companies that offer energy services, including planning, retrofitting, and putting into action energy efficiency projects after finding opportunities for energy savings through an energy audit of existing facilities. It also covers supporting or aiding Facility Owners in securing finance for energy efficiency initiatives. Finally, it includes outsourcing energy infrastructure, power generation, and energy supply. Among other things, ESCOs offer savings guarantees, risk management throughout the execution of energy efficiency projects, and measurement and verification (M&V) operations to determine the actual energy savings once the projects have been implemented. Objective of brand image value and why it’s important? The brand image of your company, along with its goods and services, is how consumers perceive it. It develops through the consumer's contacts, experiences, and perceptions of the goals and values of your business. A good brand image may support the development of a devoted customer base and raise brand recognition, both of which can result in profits for years to come. Customers purchase your brand's values when they purchase your good or service. A strong brand image is crucial for several reasons, including building trust, creating a favourable first impression, increasing referrals, establishing professionalism, etc. After learning about the difficulties and issues facing ESCO, it is obvious that a good operational plan and implementation are necessary for an ESCO. ESCO must constantly keep in mind that a sound plan will help achieve the objectives. By using the information on client preferences and monitoring changes in market demand, we may periodically adapt our company plans in order to thrive and expand within the sector. We might approach the sector where a certain kind of demand is necessary and where we can set ourselves apart. Since we are aware that the only thing that is constant in life is change, we constantly adapt and strive to get better. We will analyze the market and develop the strategy for brand image value for an ESCO to make it differentiate from the other disruptors to stand out ahead for the business growth.