Measuring Brand Equity

Question 1

What is qualitative research? (objective, sample, data collection, data analysis and outcome)

Answer 1

-Gain an understanding of underlying reasons and motivations
-Small sample
-Unstructured data collection
-Data analysis is non-statistical
-Used to develop a basic initial understanding

Question 2

What is quantitative research? (objective, sample, data collection, data analysis and outcome)

Answer 2

-Quantify data and generalise results from sample to population of interest
-Large number of samples
-Structured data analysis
-Data analysis is statistical
-The outcome recommends a final course of action

Question 3

What are some qualitative research techniques? (6)

Answer 3

-Free association
-Projective techniques (ambiguous stimuli meaning eg. ink blot test)
-ZMET
-Natural research method: monitoring the brain
-Brand personality test
-Ethnographic and experimental: researching in a consumers natural environment

Question 4

What are some quantitative research techniques? (7)

Answer 4

Brand recognition (have you seen this before)
Brand recall (free and aided recall)
Brand image favourability scale (functional and symbolic)
Brand personality values: Aaker’s Big 5 Brand Personality Types
Brand attitudes: Cognitive, affection, and behavioural scale
Brand response: Likelihood to recommend (Net Promotor Score: % of promoters = % of detractors)
Brand relationships: loyalty, attitude attachment, sense of community, active engagement

Question 5

What are Aaker’s Big 5 Brand Personality types?

Answer 5

Sincerity, excitement, competence, sophistication, ruggedness

Question 6

What is the Brand Asset Valuator?

Answer 6

Its a valuator that tells the story of a brands life cycle

There are 4 pillars of brand health

Question 7

What are some other brand valuators? (3)

Answer 7

Reptrack Framework

Interbrand Valuation

Brand 2 Framework

Question 8

What is ZMET and when is it used?

Answer 8

ZMET (Zaltman Metaphor Elicitation Techniques): 12 images that represent feelings on a topic

Question 9

What are the 4 categories of the BAV?

Answer 9

1. Energised differentiation: the basis of consumer choice (the essence of a brand, margin/pricing power, differentiation attraction)
2. Relevance: Drives usage and measures what is personally appropriate to customers
3. Esteem: Consumer respect, regard, reputation, and fulfilment of the promise to customers
4. Knowledge: The culmination off brand building efforts and the outcome of brand development, through the consumer’s relationship with the brand

Question 10

What is the Reptrack Framework?

Answer 10

Focuses on the reputation of brands, including internal (workplace, governance, leadership) and external factors/segments

Question 11

What is the Interbrand valuation?

Answer 11

Focuses on the financial value of a brand, and is linked with brand equity measures