Every brand should measure brand equity. There are several ways to do this, but this movie focuses on the BAV Model. The Brand Asset Valuator model is a valuable way to understand how your brand is perceived and how it is positioned in relation to others. This movie helps answer the question: How do I measure brand value? or How do I measure brand equity?
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- There are several methods for determining…if your brand is successful.…The one I find the most approachable…is called the Brand Asset Valuator Model.…The marketing communications agency, Young and Rubicam,…developed this model in the mid-90s.…The idea is that your company's brand health…and future can be evaluated by collecting…consumer insights in four key areas,…differentiation, relevance, esteem, and knowledge.…Typically, you'll capture these insights…through the form of surveys or customer interviews.…In fact, if you do a google search for Survey Monkey BAV,…you'll find already built surveys…that you can use to conduct your research.…
So let's explore these four key areas in more depth.…With differentiation, you'll measure this…by asking questions about how often consumers…have encountered your brand, if they recognize it,…and what makes it different from your competition.…With relevance, it's important to measure…whether or not a consumer would purchase…your product or service.…Does it fit their perceptions on price,…
Explore best practices for researching, developing, visualizing, and managing your brand, and learn about incorporating your brand throughout various customer touchpoints and keeping tabs on your brand as your company grows.
- Components of branding
- Creating a brand strategy
- Conducting a brand audit
- Crafting your vision statement and selling position
- Evaluating brand visuals, colors, and language
- Enhancing brand touchpoints
- Measuring brand loyalty and equity