A brand’s success depends on brand strength, positioning and market barriers:
- A strong brand is able to retain customers and to generate new ones. The strength of the relationship between people and a brand is expressed in terms of commitment. If a brand manages to build commitment in a large number of customers or potential customers, then it is seen to be a strong brand.
- Brands are positioned effectively if, from the point of view of the target groups, they carry a significant advantage over competitors in decisive characteristics.
- These brands comprise a unique selling proposition (USP) or unique characteristic, which can be of a functional or emotional nature.
Besides positioning and brand strength, brand success in the sense of market share also depends on market barriers. An example of a typical market barrier is a weak sales department.
Anovum’s approach to measuring and analysing image and brand (brand equity model) describes this model of how brands work quantitatively.
- Besides the classical measures of a marketing funnel, such as brand awareness, share of first time buyers (trial), brand usage and main brand, the quality of the consumer/brand relationship is used additionally to determine brand strength. This allows us to draw conclusions about brand dynamics and potential that can then be directly implemented.
- Besides establishing strengths and weaknesses of brands, we also determine the relevance of attributes (image dimensions, performance dimensions, product characteristics etc.). However, relevance is not determined by customers being asked directly, but indirectly because experience has shown that if asked directly, rational attributes are usually overrated vis-à-vis emotional ones.
- Apart from brand strength and positioning we also quantify the existing market barriers.
Anovum’s brand equity model provides reliable insights that, when put into practice in your marketing strategy, increase the efficiency of your communication.
The analysis and tracking of brand image over several years enables you systematically to position your company and product brands and to react to changes in good time.
Uses of Image and Brand Analyses
- Reputation analyses
- Analyses of strengths and weaknesses
- Analyses of potential
- Brand driver and brand selection analyses
- Brand tracking
- Extending marketing funnels to include behaviour-relevant attitudes
Our brand equity model combines the Commitment Model, the Share of Wallet Predictor and methods to determine drivers of brand value.
If you want to know more about image and brand analyses please contact us.