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

What did the Millennium Bug teach us about cybersecurity?

Thu 09th, Jan

It’s hard to believe that two decades have passed - but 20 years ago the world was celebrating a momentous non-event. We remember it well!

Why Should You Check Your Business Energy Bills?

Wed 18th, Dec

Business energy bills are complex, there’s no doubt about that. With a widening range of non-commodity costs now taking up a majority share of the invoice, it can be be both confusing and time consuming to effectively recognise whether your...

Green Energy – Going Green Doesn’t Have to Cost the Earth

Wed 18th, Dec

In the third quarter of 2019, electricity generated in the UK via renewable energy sources surpassed electricity derived from fossil fuels for the first time.