Question

Both qualitative and quantitative research as well as performance tracking can be used to measure brand equity and performance. Financial metrics can identify anomalies and trends, so an organisation can identify initiatives that drive positive results. However, financial metrics result from ‘brand strength’. Identify ways an organisation can measure ‘brand strength’ on an ongoing basis.

Answer 1

An organisation can measure brand strength through focussing on some factors which includes brand buzz, brand accessibility, brand awareness, brand knowledge, and loyality. An organisation has to track and measure consumer sentiments and behaviour related to the brand such as value, perceptions and emotional connections.

It can also measure brand strength through the following:

1. various identifiers which includes the company's website, logo, marketing strategies, site designs, packaging and distribution techiques, contents etc.

2. Customer expectations, knowledge and preferences.

3. Output

4. Looking at the strategies of competitors.

5. SWOT Analaysis- It includes the analysis of strength, weakness, opportunity and technology part.

One can gather information through surveys, research and social media monitoring to create a measurement of brand strength.