![]() ![]() ![]() Marketers need to consider six stages of development for a brand, each equating to a different marketing priority, starting with creating basic awareness and concluding with building customer loyalty. Ultimately, we incorporated the best metrics in a multi-brand study that scored all potential brand alliances.Ī Brand Development Model is a diagnostic tool that integrates many proven metrics into a framework that guides strategy. After compiling a list of brand equity components, we reviewed several public and private brand equity studies to identify best practice metrics that could be applied to each of the areas identified by the stakeholders. We started the process by convening a “summit” with several marketing directors in the organization and brainstorming on what constituted a desirable brand partner, that is, one with a high degree of equity that would compliment our client’s brand name. ![]() It was important to properly define what constituted a strong brand because of the large number of alliances under consideration and the fact that the measurements would be used to negotiate with potential partners. The origins of the Rockbridge Brand Development Model go back to an engagement where we were charged with developing a comprehensive brand equity measurement process for a client interested in potential brand alliances. Such a model categorizes the stages of development for a brand, identifies how to measure progress in each stage, and prescribes the marketing priorities for moving a brand to a higher stage of development. There are many facets to defining a strong brand, so it is important to examine all of these in the framework of a Brand Development Model. In addition to the obvious benefit of driving market share, a strong brand can command a price premium, augment customer relationships, ensure successful line extensions, help an organization attract talent, and boost stock prices. A high equity brand gives its owner many advantages. ![]()
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