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Brand Equity Measurement System Indirect Measure (Brand inventory (Do it…
Brand Equity Measurement System Indirect Measure
"Set of research procedures designed to provide timely, accurate and actionable information for marketers regarding brands to make tactical and strategic decisions"
1) CONDUCT BRAND AUDIT
Consumer-focused, assesses where the brand has been, uncovers sources of equity and suggests ways to improve and leverage its equity
Brand exploratory
What the customers actually feel and how they think and act towards the brand
1)
Preliminary activities
(determine what you should measure)
b) Brand concept maps
a) Quantitative brand research techniques (mental maps)
2)
Definite survey-based quantitative research
(you measure it)
All potentially
salient
associations identified by
qualitative
research phase and assessed ITO their strengths, favourability and uniqueness by means of
quantitative
research
When, how and where was value created?
Brand inventory
a) Profile how all P/S sold are marketed & branded
b) Profile by cataloging written& visual info related to P/S sold
c) cluster together to see if there are certain characteristics in common
Visual
: names,logos,symbols,characters,packaging,slogans. other TM's
Written
: inherent P/S characteristics of brand, pricing,communications,distribution policies, other relevant marketing activities
Do it to:
Provide current customers perception of brand and what it is based on
Suggests how brand can be better managed
Reveals brand consistency
DESIGN BRAND TRACKING
Assesses where brand is now, investigates if marketing programs are having their intended effects
Collect information from consumers on a routine basis over time
Quantitative measures of brand performance on a no. of key dimensions that marketers can ID in the brand audit or other means
Components of brand value chain are used to better understand
where, how much
, and
in what way
brand value is being created
Offers invaluable information about how well the brand has achieved its positioning
Consistent base-line information to facilitate day-today decision making