Brand Measurement

brand measurementA brand is the collection of perceptions that exist in the minds of its current customers, and its prospects.  Branding, on the other hand, is the process by which a company creates and sustains these perceptions in a compelling and differentiated way.  The outcome of successful branding is a connection with existing customers (which results in loyalty) and with prospects (which results in a “willingness to try”).

Elon Musk, founder of Tesla Motors, PayPal and SpaceX eloquently explains “Brand is just a perception, and perception will match reality over time. Sometimes it will be ahead, other times it will be behind. But brand is simply a collective impression some have about a product.”

Brand equity can be measured by the extent to which its target markets understand the brand, what it does, and perceive its products (or services) as differentiated, relevant and quality-oriented.

Our approach to brand research involves:

  • Measuring the competitive brand differentiation, relevance, regard and awareness
  • Showing how brand equity corresponds to DESIRED INTENTIONS (repeat purchase, customer satisfaction, likelihood to recommend, likelihood to consider, etc.) in customers and prospects
  • Identifying key attributes driving brand equity for the brand and for its competitors
  • Determining where a brand needs to focus to create a unique advantage in order to attain desired intentions.

Whether you are looking to do a one-time brand assessment (i.e., a baseline study) or an ongoing brand tracking study, Panalytics can help you design an approach to your specific needs.

re·spon·sive·ness

NOUN

The quality of reacting quickly and positively