Measure and build Brand Value presented by: nidhi sekhri 1210738
CONCEPT OF BRAND A brand will achieve greater market success when it comes to recognize and respond to one of 4 basic types of :EconomicRationalEmotionalCommitted
Measuring Brand Value• Brand Awareness• Purchase Consideration• Purchase intent Some other Things: • The product development department. • The quantitative oriented finance house.
Measuring Brand Value• Ability to command a price premium and maximize the no. of units that can be sold at that premium.• The measure of Brand value incorporates the price premium & the unit volume of the brands. Eg:-vehicle segment.• The actual transaction prices- the price consumers have really paid for that product
ADVANTAGES FOR AUTOMOTIVE COMPANIES• It captures the entire value of each competitor ’s brand in one measure• It is based on the actual purchasing behaviour of consumers.• It correlates strongly with a brand’s profitability.• It can be tracked over time and used through out the company for target setting & performance evaluation.
drivers of the Brand Value• The various elements of the entire purchasing and ownership experience affect the value of its brands and where to invest to strengthen them.• All companies are constantly striving to find the sweet spot: the price and the volume levels that will maximize profits.• Individual variable includes performance measures such as accelerations, handling, breaking, measures of scale, service satisfaction & consumer ratings of styling & image attribute.
drivers of the Brand Value• The approach enables a company to continuously improve its understanding of the factors that drive brand value.• The segmentation success maps highlight that matters most of consumers & visually display how competing brands compare along those dimensions of values.
HOW TO IMPROVE BRAND VALUE:• Senior managers can use segment success maps to interpret and predict competitive actions & to help craft vehicle & resources allocation strategies.• Managers prefers, to make brand value one of the company’s key metrics:- on a par with profits and consumer satisfaction.