Brand Equity: The ability of an established brand to add measureable value to the products and services that carry the Brand’s name.
Brand Equity Tracking
There are many definitions for “brand equity” or “brand value”, but we prefer the one presented above. First, because it focuses on the benefit to the marketing organization of a well-managed brand: the enhanced monetary value of branded products and services. Secondly, because this definition lends itself to measurement and verification through proven quantitative techniques.
Leadership Starts with Positive Awareness …
The Importance of “Top-of-Mind” Awareness When consumers are asked to think about a category and then recall the first brands that come to mind, those brands that demonstrate prompt, unaided recall are almost always the category leaders.
- Whether measured by dollar volume, share, repeat purchase or favorable ratings, top-of-mind brands tend to dominate the categories in which they compete.
- That leadership status is earned through consistent, positive and well-directed marketing efforts.
Measuring More than Popularity and Familiarity …
Measuring Brand Salience – the AA&U Study A key management tool for directing a successful marketing campaign is the well-designed awareness, attitudes and usage (AA&U) study. Periodic AA&U studies graphically track a marketing program’s relative success in maintaining essential levels of brand awareness while communicating and reinforcing compelling brand messages.
We have been helping top-tier marketing organizations design and implement AA&U studies for over 20 years.
- Our approach, linked to our brand positioning and profiling process, ensures that you are measuring the attributes and brand associations that are central to maintaining your brand’s core image.
- We also incorporate measures of product use, purchase loyalty, new product trial, cross-shopping patterns and future purchase intentions that link brand image to performance in the market.
From the Base Wave on …
If you are about to launch a new marketing program and wish to track your progress, we can design an AA&U study that is specifically tailored to your needs. If you have a tracking study in place, but would like to enhance your diagnostic capabilities, feel free to contact us: we would be delighted to help.