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.

---

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

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

Too Dull? Too Sharp?

You work hard getting the right cover message and words... Read More

Branding: All My Exs Live In...

...my senses. I know, you were thinking 'Texas'. Well, if... Read More

Intelligent Design comes from Brand & Account Planners

I've been reminded recently, rather forcefully, that not all reality... Read More

Brand Identity and the CEO

This week I spent a few hours with a highly... 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

How Brand as an Intellectual Property has Led to Corporate Globalisation?

IntroductionGlobalisation is referred to as a set of profound material... Read More

Brand Boring or Brand Buzz?

I heard an advertisement on the radio the other day... Read More

The MOST Expensive Mistake You Can Make

Most people who own a small business have a huge... Read More

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

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

Three Brand Identity Myths That Will Bring Your Business Down

To begin, let's define "Brand Identity," which is the combination... Read More

Brilliant Branding Builds Business

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

Boston Web Design Branding - Brand Identity Guru

A branding company's website purpose is to design websites that... Read More

Go Ask Alice

One of fiction's finest marketing minds, The Cheshire Cat, once... 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

Brand Identity Guru - Is Your Brand Vital?

The world is not waiting for you?or your product or... Read More

Shattering the Branding Myths

If you've been online long, you're sure to have seen... Read More

Setting the Right Price

One of the ways people get to know you is... Read More

Does Your Message Pass the Test?

Develop an effective benefit message and you're well on your... Read More

Branding On The Web Is Like Mining For Fools Gold

I am sick and tired of marketing geeks touting the... Read More

The Aim of the Name

Large corporations spend lavish amounts seeking names for their products... Read More

Corporate Identity - A Rough Guide

A rough guide to corporate identityThe tabloids report the millions... Read More

Why You? -- Professional Identity Branding

You can have first-rate products and services, but if you... Read More

Build Brand Identity Through Product Branding

Building a product into a brand leader is not easy,... Read More

Trade Journals in Franchising

As many people know Industry Trade Journals in America have... Read More

Corporate Branding and Professional Logo Design

Any business with the minimum interest to be successful should... Read More

A good logo vs. a FABULOUS logo

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

Branding Services - Brand Identity Guru

Branding Services is a tactic that marketing executives and managers... Read More

Notable News - The Branding Myth

How many times have you heard of seen advertising for... Read More

Value Proposition Writing - Brand Identity Guru

Your Value Proposition, or as I usually call it, your... Read More

Im Just Starting, Why Do I Need a Logo Design?

Businesses eager to open often give little thought to their... Read More

The Face of Your Business, Part I

When we initially started our businesses, we had to decide... Read More

Brand Building 201: Finding The Ideal Way

The strongest and longest lasting brands branch off of an... Read More