Exploring Brand Equity Measurement

Derrick Daye

"You cant manage what you dont measure.

This is especially true of a brand and its equity. A robust brand equity measurement system will accomplish the following objectives:

Measure the brands equity across a variety of dimensions at different points in time over time Provide diagnostic information on the reasons for the changes in brand equity Gauge and evaluate the brands progress against goals Provide direction on how to improve brand equity Provide insight into the brands positioning vis--vis its major competitors including its strengths, weaknesses, opportunities and threats Provide direction on how to reposition the brand for maximum effect

The Blake Project has identified the following five attributes that drive customers to insist upon specific brands: awareness, relevant differentiation, value, accessibility and emotional connection.

These brand insistence drivers work together to move customers from being aware of your brand and preferring your brand to purchasing your brand and being loyal to your brand.

We recommend that brand equity measurement studies:

Focus on the key drivers of customer brand insistence  Measure changes in brand equity over time Diagnose reasons for changes in brand equity  Provide insight into the current brand positioning, including strengths, weaknesses, opportunities and threats Provide direction on how to increase customer brand insistence

Brand equity studies should measure the following for your brand and each of its competitors, with responses reported separately for different user segments:

Awareness  Convenience/accessibility Perceived value (including quality and price sensitivity)  Rank in consideration set  Preference Usage Relevance  Differentiation Vitality Emotional connection  Loyalty  Multiple personality attributes and other brand associations.

Derrick Daye http://www.brandingstrategyinsider.com