Brand Asset Valuator
It is a database of how a consumer perceives different brands. Brand Asset Consulting creates and manages brand asset valuator. It is a sub part of Young and Rubican brands. Information provided by it helps the firms to improve the process of marketing decision making which ultimately results in better management of brands. Value of a brand is measured by BAV in 4 dimensions:
- Differentiation: quantification about the point of difference of a particular brand is given by it. It means that it helps a firm to stand apart from its competitors in market. For this a particular brand has to be unique. Also this brand should offer some promises to the consumers and live up to those promises to an extent if not fully.
- Relevance: it tells how appropriate a particular brand is to us. It tells about the difference between the actual importance of a brand and the perceived importance of a brand in the market. This also tells that how a particular brand is closely tied to consumers.
- Esteem: it is the quality that is perceived and perception of the consumer about the increasing or the decreasing popularity of a brand. It is basically a check on whether the brand keeps its promises or not. A consumer response to a particular brand by keeping in mind two factors: popularity and quality. Both these factors vary according to a particular culture and country.
- Knowledge: It refers to the understanding of a particular brand i.e. the awareness of the brand among the consumers. The level of awareness decides the intimacy of the consumer with a particular brand. Brand building gives the true knowledge about a particular brand.
- Brand Strength: Growth potential of a particular brand is determined by it.
- Brand Stature: Current stature of a brand is determined by it. Current stature means how many consumers are using that brand and are those people satisfied with it or not.
Written by: Matt
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Tagged as bav, better management, brand asset valuator, brand strength, consumer response, consumers, country knowledge, decision making, differentiation, intimacy, level of awareness, perception, popularity, promises, quantification, relevance, stature, supportive leadership, true knowledge + Categorized as Economy articles