Brand Equity - Measurement and Tracking

Introducing The Brand Equity Wheel

Posted by Vision One Research

Wed 29th, Nov

Brand Equity is a construct  designed to reflect the real value that a brand name holds for the products or services it provides. Measuring Brand Equity is the ultimate measure of brand health because it drives sales, market share and overall profitability.

Introducing The Brand Equity Wheel

Vision One’s Brand Equity Wheel is one of the most forward thinking brand equity evaluation tools available – designed to help brand owners optimise their brand and success. The Brand Equity Wheel helps brand owners by focusing on Key Performance Indicators (KPIs) that are widely known to have a tangible effect on brand health. The wheel is made up of 4 key areas (and 8 key metrics)

Brand Pyramid (or sometimes known as the Brand Funnel) is a classical brand marketing took ideal for evaluating brands and their strengths and weakness. The Brand Pyramid incorporates key metrics, including; awareness, consideration, usage and loyalty.

Brand Stature – Standing out from the crowd is essential for any brand. Brand Stature reflects both the strength and leadership of the brand in the market and its uniqueness using vision ones proprietary brand questions.

Brand Value – In line with current thinking on brand equity, we place a good deal of emphasis on the value (£) people attribute onto a brand. We seek to measure the financial strength of the brand and peoples disposition to pay more for it. However, another important aspect of ‘Value’ is how well the brand meets consumer needs.  We also assess how well the brand meets 25 rational and emotional needs.

Brand Delivery – Happy customers is the route to success for many brands. We assess how well the brand delivers against expectations (Customer Satisfaction) along with a Net Recommendation Score (NPS)

These fundamental four components of brand health can be further broken down into 8  factors which can be measured.
These measurements lead to an overall brand health score.

The Brand Equity tool uses some ground breaking approaches to provide unique insights into your brand.

Read more here...

 

Leave a comment

Liverpool Chamber Local Hero Awards Sponsor

Tue 10th, Sep

The University of Liverpool Management School

Technology and the legal sector

Fri 16th, Aug

In his latest blog Mitchell Charlesworth partner, Mike Buxton, looks at the impact of technology on the legal sector.

Take action now if you’re relying on cloud synching services to back up your data

Mon 12th, Aug

If you’re assuming that your cloud synching and sharing services, such as Dropbox or Google Drive, are acting as your backup or are taking responsibility for automatically backing up all your data, then, please, think again!

Business LPAs – what are they and why do you need one?

Mon 05th, Aug

Dynamic, thought-leading business owners are failing to include a business lasting power of attorney in their crisis management preparations, a leading solicitor has claimed.

What every SME should know about personal guarantees

Wed 31st, Jul

Start-ups and SMEs looking for sources of funding need to think carefully before signing personal guarantees, according to a leading corporate lawyer

5 minutes with...

Wed 31st, Jul

John Drysdale, Managing Director at No Guru ltd