How does one measure brand equity? There are many ways to do it. Interbrand-Businessweek's methodology is probably the most famous for listed companies, and many marketers are familiar with their Top 100 Global Brands.
I personally like the approach which Blake Project has adopted. According to them, there are five key attributes which drive customers' brand insistence, namely:
1) Awareness
2) Relevant Differentiation
3) Value
4) Accessibility
5) Emotional Connection
This is very nicely encapsulated in the following chart:
Courtesy of brandstrategyinsider.com
What I like is the emphasis on emotional connection. This is a fundamental component of any strong brand, yet most brand measurement systems neglect it altogether, preferring to focus on the hard numbers like dollars and cents. Over the long term, how a brand performs will inevitably depend on how much emotional capital it has invested over the years with its customers and other stakeholders.
Link
10 comments:
ahhh..another useful post by the coolinsider. Walter nice one man..gonna bookmark that page..
Great find! Thanks Walter. Didn't realise Malcom Gladwell blogged on the site. =)
No problems. I am glad to plug them and I wished that there is such a branding agency in Singapore. Unfortunately, many marketing, advertising and PR agencies here (Ben...hint hint...) are still pretty stingy with their advice.
Hmmm...maybe I should drop them an email.... ;)
Hope 1 fine year, Singapore brand can be in the list too..... just wonder when will this happen?? :P
I am sure it will happen eventually if we all work hard at it. Right now, I am hoping to position myself as a marketing and communications thought leader. Haha yeah right :-)
it's all about brand equity... emotional relationships with the customers thru events, contacts, taste of the product, advertising... A very interesting topic. The whole problem might be about poundering the right value of it, and translate it in USD. The only methodology I can see could be thru extrapolation and comparisons : all competitive brands in one sector gathered in a batch - a random 200 potential customers - they have to pick one product, only one, as a gift... % could be a nice criteria to get an idea about how much the brand worths... what do you think ?
Interesting point tanguy. I agree that sometimes the simplest and most straightforward test may be better than all the numbers that the marketing analysts and bean counters can crunch! ;)
Stumbled by for the first time, just wanted to compliment you on a post (and blog) well well done.
Well, you are right Walter, things are a bit more complicated than this "too straightforward" method :-)
But at the end, results might be the same.
On the other hand what's the point to get a brand lots of ppl know, even love,... but don't buy ?
It would interesting to see if such cases exist btw ... (not sure...)
In terms of Relevant Differentiation, has anyone on here used analytical strategic product line management and analytical marketing research techniques like Shapely value?
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