Why and how should you measure brand equity?
Find out how a validated brand tracking approach monitors, guides and accelerates brand growth.
In the first article in our series on brand equity we argue that consumers hold in their minds many associations with brands. The strength of these associations is a brand’s ticket in a purchase situation; the faster a brand comes to mind, the more likely people are to buy it – this is why mental availability matters. When it comes to long-term brand building and sustainable growth, creating an emotional connection with people is key. Such connection further influences consumers’ intention to buy; it creates a lifetime advantage that predicts purchase behaviour, accelerates growth and can help support a price premium. This is why a brand shouldn’t merely be famous, but also meaningful and different.
In this article we go further to look at why it’s important for brand owners to understand and measure their brand equity, and how they can do this.