Explain various techniques for measuring and interpreting Brand Performance.
Answers
If you are a brand manager, by definition, you are measuring the performance of your brand on a regular basis. Otherwise, how can you successfully manage your brand? Here are the items we recommend brand managers measure:
Unaided brand awareness (for the categories in which the brand competes and perhaps for the customer benefits the brand delivers)
Top-of-mind brand associations (your brand’s true position in its customer’s minds)
Perceived brand delivery against the most important customer benefits
Attitudinal loyalty toward the brand
What customers think makes your brand unique (differentiation)
Brand price sensitivity (a measure of brand strength)
Brand vitality (a measure of brand marketplace momentum)
Brand quality perceptions
Brand value perceptions
Brand accessibility perceptions
Emotional connection to the brand
Brand values alignment with its customers
Brand distribution
Brand market share
Brand sales
Brand profitability