Brand Equity

Brand equity can be defined in many different ways. I have developed a simple, yet powerful, definition of brand equity. For a brand to be strong it must accomplish two things over time: retain current customers and attract new ones. To the extent a brand does these things well, it grows stronger versus competition, and delivers more profits to its owners.

Breaking down the definition of "brand equity" into its two components, we can more easily determine a reliable way to measure brand equity, and to track changes in brand equity over time. The components of brand equity, retention and attraction of customers, stem from people's experiences with and perceptions of a brand.

The ability to retain customers is largely experiential. High equity brands exhibit stronger levels of customer satisfaction and loyalty. History has shown that consumers will continue to buy a brand that offers them "their money's worth."

The ability to attract new customers is largely perceptual. Because customers do not have actual brand experience, they must go by what they hear, see and believe about a brand. The two primary ways the market receives this information is through messages controlled by marketing, such as advertising and PR efforts, as well as uncontrolled messages such as press stories and "word of mouth."

To measure how strong your brand is copy and paste: (http://brandidentityguru.com/bightml/brandmasterpiece.html). Then click "Take the brand strength test". This is a short survey that measures the strength of any company's brand. It's a great tool to see where you are today.

Scott White is President of Brand Identity Guru (http://www.brandidentityguru.com), a leading brand consulting and market research firm located in Easton, Massachusetts, USA, near Boston.

Brand Identity Guru specializes in creating corporate and product brands that increase sales, market share, customer loyalty, and brand valuation. Over the course of his 15-year branding career, Scott White has worked in a wide variety of industries: high-tech, manufacturing, computer hardware and software, telecommunications, banking, restaurants, fashion, healthcare, Internet, retail, and service businesses, as well as numerous non-profit organizations.

Brand Identity Guru clients include: Sun Life Financial, Coca Cola, HP, Sun, Nordstrom, American Federal Mortgage, Simon (America's largest shopping mall manager) and many others, including numerous emerging growth companies.

Scott White is a very enthusiastic speaker and has the gift of being able to explain the principles of branding in a compelling and entertaining manner so that people at all levels can understand.

---

Introduction to A Branded World: Adventures in Public Relations and the Creation Of Superbrands

You'd have to labor to shield yourself from the power... Read More

Logo Design - Corporate Identity Branding - Brand Identity Guru

Like it or not it's who you are. Your corporate... Read More

Logo-ize For Instant Identification & Increased Awareness

The task of creating an indelible impact on the memory... Read More

Why Should I do Business With You?

It's the question that is on the minds of all... Read More

Is Your Logo Helping or Hurting Your Business?

The quality of your logo can mean the difference between... Read More

How to Work with Your Graphic Designer

As a graphic designer, I can tell you something right... Read More

Importance of Business Branding

Branding is very important to a business, whether it is... Read More

What is Private Franchising? It is Nothing Someone Made It Up

The Federal Trade Commission has an obligation to the general... Read More

Branding Your Radio or TV Campaign With A Musical Identity (aka Audo Logo, aka Jingle)

You don't think twice about a business card and letterhead... Read More

Differentiate and Dominate

Quite often small business owners will ask me to reveal... Read More

Types of Logos

There are three basic types of logos: text, symbol, and... Read More

Brand Your Name!

Have you ever thought about branding your name? Does the... Read More

Jan Verhoeff: Brand Your Market

Marketing potential of any product is based on recognition and... Read More

Branding Strategy - Brand Identity

Today, in many organizations around the world, branding is treated... Read More

Measuring Return On Investment

...or Is My Brand Working?To measure the impact and effectiveness... Read More

How Much Is A Great Business Logo Really Worth?

A great logo can help a business project a positive... Read More

Santa - The Brand

Every Christmas Eve, a burglar named Santa busts into homes... Read More

Importance of Branding - Whats in a Name?

Branding is perhaps the most important facet of any business--beyond... Read More

The Secrets of Starting Business Successfully

Starting Business Secrets will help you to start your own... Read More

Top Eight Mistakes to Avoid When Naming Your Business

Naming a business is like laying the cornerstone of a... Read More

10 Secrets for Free Media Placement

Why pay a high priced PR agent when you can... Read More

Hiring the Right Graphic Designer for Your Small Business

Every small business needs it, but not many have it.... Read More

Your Identity Speaks Loudly...What Are You Saying?

Your corporate identity is a graphic expression of who you... Read More

12 Ways to Reduce Postage

1. Never send a letter that weighs less than 30... Read More

The Role of a Visual Vocabulary in Brand Identity Design

Visual elements are a major part of your business's brand... Read More

Optimize Your Mailing List For Better Results

A list of customers who have previously bought from you... Read More

Personal Branding: Characteristics of a Strong Personal Brand

How many times have you been at a networking function... Read More

A good logo vs. a FABULOUS logo

If you had a choice, which one would you choose,... Read More

Branding Your Business To Make More Money

Branding your comapny should be the first thing a company... Read More

How Will Your Visitors Remember You And Your Business? Brand Yourself From The Crowd...

Big and Yellow 'M' reminds you McDonalds... 'DELL' with oblique... Read More

Creating Powerful Names for Products, Services, and Your Business

The name of your business is important--it's one of the... Read More

Branding Yourself To Increased Profitability

Successful Realtors know the importance of branding their identities into... Read More

Brand Building For Profit: The Colour Behind the Brand and Why I Wear Red Ties!

Colour is essential to building a strong brand.Many of you... Read More