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A high equity brand gives its owner many advantages. 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. 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. 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. 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. 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. 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 clients brand name. 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. Ultimately, we incorporated the best metrics in a multi-brand study that scored all potential brand alliances.
A Brand Development Model is a diagnostic tool that integrates many proven metrics into a framework that guides strategy. 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. The following identifies these stages, recommended metrics, and strategy implications for brand management.
with weakness in this stage is to educate the market about the brand, such as the type of products or services the brand offers.
Deep awareness and a clear and distinct value proposition should translate into preference among prospective buyers. Many solid metrics can be used, but two key ones are preference from a set of choices and a measure of behavioral intent qualified with a time frame or context (if you were to buy one today...). If preference is low even if consumers believe in a unique value proposition, the logical strategy is to encourage trial in order to shift purchase inclinations. Many products and services involve habitual buying patterns - for example, a traveler may like one hotel brand but routinely book a competitor, so a special promotion may disrupt the pattern and change preference.