Measuring Sources of Brand Equity

Question 1

How to Measure Brand Equity?

Answer 1

Awareness: Quantitative measures

Brand Image: Qualitative and Quantitative

Question 2

How to Measure Brand Awareness?

Answer 2

Quantitative Research Technique
o Brand awareness measurement for both recall and recognition is always survey based.

Question 3

How to Measure Brand Image?

Answer 3

Qualitative Research Techniques
(Unstructured measurement approaches with a wide range of responses that are used to uncover brand associations)

Quantitative Research Techniques
(Employs scale questions so that numerical representations and summaries can be made.)

Question 4

When are recognition and recall important?

Answer 4

If research reveals that many consumer decisions are made at the point-of-purchase then brand recognition is important.

If research reveals that consumer decisions are mostly made in settings away from the point-of-purchase then brand recall will be more important.

Question 5

Free association tests

Answer 5

Tools to measure brand image

Helps determine range of associations, the strength of associations, the relevance of associations & to some extent favorability

Question 6

Probed free associations

Answer 6

Tools to measure brand image

 What do you like best about the brand? What are its positive aspects?
 What do you dislike about the brand?

Question 7

Projective techniques

Answer 7

Tools to measure brand image

o Complete and interpret

Filling in text bubbles for what this customer might say or act like

o Comparison techniques
Who in these pictures would be most likely to consume Mr.Big? Skor? Neither?

o Zaltman Metaphor Elicitation Technique (ZMET)

Question 8

Personality Tests

Answer 8

Aaker’s Big 5
Brand should fit into 1-2 of these categories
`
* Sincere: Down-to-earth, honest, wholesome, cheerful
* Exciting: Daring, spirited, imaginative, up to date
* Competent: Reliable, intelligent, successful
*Sophisticated: Upper-class, charming
* Rugged: Outdoorsy, tough

Dialogue Test
If Absolute vodka & Smirnoff vodka spoke to each other what would they say?
 People fill in the blanks

Tombstones
 What would be on the tombstone of the company? Focal brand and closest competitor

Question 9

Relationships

Answer 9

What is the customers relationship to the brand?

Question 10

Observations

Answer 10

If you are intimidated by something you won’t want to touch it. Apple store set up

Question 11

Diary Studies

Answer 11

o Habits that form around the product
o How do they choose to share their habits with others?
o How are they engaging with the product?
o Diary of engagement with the product

Question 12

Mood Board exercises

Answer 12

Want to build board that communicate brand identity

Question 13

MRI / Neural techniques

Answer 13

How the brain responds to certain stimuli

EEG, MRI to see responses in unconscious part to see how you react to the brand

Question 14

Drawbacks to Qualitative Research

Answer 14

Small sample sizes

Subjectivity/findings require interpretations

Qualitative data needs quantitative back-up

Question 15

Scaling Associations

Answer 15

-Once the key associations are uncovered from the qualitative research, we build a survey using the uncovered associations and phrases

Question 16

Brand Loyalty

Answer 16

Brand loyalty is characterized by repeat purchases and higher volume of purchase

Question 17

Brand Engagement

Answer 17

Consumers invest time and energy on the brand

Question 18

Brand Community

Answer 18

A sense of belonging to a club can engender favorable attitudes and intentions. Attachment relates to deep positive feelings

Question 19

Brand Resonance

Answer 19

If the consumer scores high on all 4 dimensions of loyalty, attachment, sense of community, and engagement, a psychological bond between the consumer and the brand exists. In simple terms, the consumers believe that they are in synch with the brand. Some of very strongest brands have this resonance.

Question 20

Quantifying open ended questions

Answer 20

Surveys can also contain “count” and “rank” questions. These findings are then compared to the qualitative findings

Question 21

Overall Brand Equity Proxies

Answer 21

Purchase intention

Net promoter score: how many people would promote the brand to their friends/family?

Lovers vs. Haters: Coke vs. Pepsi
 I would only choose coke, I don’t care either one, I only choose Pepsi