Brand Performance - Image, Equity and Positioning
Market LINKS works both with Keller's model (Customer-Based Brand Equity (CBBE) Model) and with our own methodology "Brand Performance Evaluation".
Brand equity is in fact a collective term for all the benefits that a brand may offer to the customer in addition to the benefits of the product itself.
Measuring brand equity includes examining several basic aspects:
• brand awareness;
• brand positioning/perception of particular brand characteristics;
• brand image;
• brand usage;
• brand loyalty.
Strong brand creation is a significant element in the process of attracting a great number of customers. Customers need to know why they should buy a product or service of a particular brand and what benefits they will get from its use. The associations they make with a specific brand strongly influence customers' purchasing habits, regardless of whether these associations are created through perception or personal experience.
A knowledge of brand equity provides a number of strategic advantages:
• allows to increase income from a product/service, compared to rivals that offer a similar product with lower brand equity;
• maintains high awareness of a product or service;
• helps in market segmentation;
• may be used as marketing “leverage” when introducing a new product;
• it is often interpreted as an indicator of quality;
• offers strong protection against the appearance of new products and rivals;
• may lead to increasing initial and subsequent purchases of your products, through high awareness of the brand, approval of its image/reputation, and trust in its quality;
• a strong brand makes it easier for the customer to make purchasing decisions;
• a strong brand decreases in the customer the feeling of uncertainty created by the risk inherent in the purchasing decision being made.