Understanding brand metrics

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BRAND METRICS are the characteristics of a brand that are measured to determine its strength.

Four main categories are used to measure the strength of the brand and these are;

  • Brand promise
  • Brand attributes
  • Brand equity
  • Brand management.

Brand promise
In essence this is what the marketer hopes the brand will do for the consumer.

It is a promise to the audience as to what benefits they will derive from the brand. This promise is normally delivered in one succinct sentence.

It should also be easy to decipher its meaning. Below are some examples of brand promises;

SPAR— Good For You

Edgars — Own your Look

Greens Supermarket — Freshness Guaranteed.

So when a consumer buys groceries from SPAR, for example, they buy with the belief that the groceries would be good for them based on SPAR’s brand promise.

They expect nothing less than goodness.

I would assume that Edgars would have made strides to consult their market as to what type of clothes they would like to purchase from their store before claiming that the buyer would own their look by buying from them.

Similarly, Greens Supermarket would have to ensure that their product is fresh all the time to dignify their promise of freshness guaranteed.

Brand attributes
This includes the name of the brand, and as I have said before, there is everything in a name.

In order for a brand to be successful the marketer has to get the name right. The visual aspects include the logos and corporate colours.

The brand personality, which is the specific mix of human traits that can be attributed to a brand as has been explained in my previous articles, is included here. Pricing strategies also form part of the brand attribute.

Brand equity
This is the work that marketers undertake to create, maintain, enhance and protect a brand.

Brand equity is the added value endowed on products and services. It is reflected in the way consumers think, feel and act with respect to the brand as well as the market share and the profitability the brand commands for the firm.

In my own words I would say brand equity is that aspect of a brand that whether a consumer likes it or not, cannot take away from a brand.
Coca-Cola has positive brand equity. It is a brand that has travelled the world and it remains formidable in each of the countries that it has travelled to. It is a preferred beverage in most countries.

One may say the same of the Virgin brand which has used its core competencies to spread across industries in what is called brand megalomania and still retain the same measure of success because of its name.

Brand management
This is the aspect of marketing that develops long range and competitive strategies for the brand.

It prepares the annual marketing plan and sales forecast for the brand.

The brand manager works with advertising and merchandising agencies to develop programmes and campaigns.

The brand manager also increases the support of the product among the sales force and distributors.

It is also the brand manager’s duty to gather continuous intelligence on the product’s performance, customer and dealer attitudes and new problems and attitudes so as to initiate product improvements to meet changing market needs.

  • Brands metrics can be measured on a marketing dashboard, a subject that will be discussed in this column as the year progresses.

One avid reader of this column sent me some interesting feedback last week. He indicated that there was time when it was common for personnel behind counters in banking halls to shout “Neexxtt!” to use his emphasis.

He indicated that interestingly a TelOne advertisement in one of our sister papers read: “How can we help you today?” Obviously much more polite than “Neexxtt!”

Much to my laughter he retorted that those still shouting “Neexxtt!” in the new playing field after dollarisation would be the next to exit the highly competitive markets where customers needed to be treated with respect and ushered to a service desk in a more dignified way. Valid points there.

Quite stimulating too! To all the readers keep reading and keep sending in feedback and remain Brand Savvy!