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.

---

Tips for Creating Brilliant Business Names

Imagine if Yahoo! had been named TheInternetDirectoy. Or StarBucks was... Read More

Brand Equity

Brand equity can be defined in many different ways. I... Read More

Personal Branding: Characteristics of a Strong Personal Brand

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

Branding Junk Removal - He Did It, Can You?

What does it mean to be remarkable?Brian Scudamore, CEO and... Read More

Its Time For Some Steak

Recently, I was reviewing our website statistics. One of the... Read More

Mascots ? The Killer Promotional Concept

Mascots are the unique dolls or puppets that help identify... Read More

What About Me? What You Need To Know About Me-Marketing

What about me? Are you asking yourself this question? If... Read More

Top Eight Mistakes to Avoid When Naming Your Business

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

Standing Under the Umbrella And Still Getting Wet

Make More Money Making a Name for YourselfCalling all realtors,... Read More

McDonalds Supply Chain of Potatoes

McDonald's buys its potatoes from corporate farmers in Idaho not... Read More

Creative Branding Increases Sales Through Company Recognition

The one thing that everyone has in common is that... Read More

Brand Identity and Brand Image - Brand Identity Guru

It is important to distinguish between corporate identity, brand identity,... Read More

Branding Is Not Selling Out: ITS SELLING IN

Ever see an amazing band perform and wonder why you've... Read More

Brand Lo-o-o-o-o-ve...

So... how have you been building your brand lately?Now, I'm... Read More

When Search Engine Marketing and Trademarks Collide

In the world of marketing, branding issues are always an... Read More

Are You Brand Worthy?

Branding is one hot topic, although it is wildly misunderstood.... Read More

Brand Name Identity in the Oil Business

I submit to you that Brand Name Identity in the... Read More

A Lesson in Branding from Paris Hilton

I have never been a fan of Paris Hilton.I see... 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

Hawaiian Heirloom Jewelry

Back to the era of the Hawaiian monarchy, the origin... Read More

Putting You and Your Company in Position to Own Your Market

Americans have always liked their coffee hot. But then Starbucks... Read More

9 Keys to an Effective Logo

The right logo, with the right characteristics, will boost your... Read More

The Brand Called You

The best brands always try... Read More

Play it Again Sam

The marketing director for one of my longtime clients used... Read More

Articles: The Perfect Branding Tool

If you own a web-based business, you're probably aware of... Read More

Branding Fiasco -- Better Be Who You Say You Are!

Our experience as customers offers great instruction into the concept... Read More

Brand Strategy - Brand Identity Guru

If you could have the secret recipe and all the... Read More

Brilliant Branding Builds Business

Branding is more than product recognition or a simple logo.... Read More

Branding Article: Pepsis Missed Brand Opportunity

I love Pepsi. It's that slightly sweeter taste and the... Read More

Strategic Moves In The Branding Gamble!

The so called 'globalisation' has cluttered the world markets with... Read More

Is It Legal? - Indecent Naming With Tradition

When Mitsubishi launched a new car with the name "Pajero"... Read More

Choosing the Right Color Palette

Color is a highly personal experience ? everyone has favorite... Read More

Brand Identity Company ? Brand Identity Guru

Hiring a brand identity company is very important. In every... Read More