Brand Power & Brand Engagement – Model
Market Probe's model is comprised of customer attitudes (product quality, reliability, etc.) and perceived advantages (matchup with needs and mitigating factors) which help define the rational equity of the brand. Associations (image and trust, etc.) and attachment (values and peer group support) identify the emotional equity in the brand. As shown in the model below, these two drive brand power in the marketplace among customers and prospects. The model assumes aided or unaided awareness of the brand as a condition for brand assessment. Brand power is the weighted combination of the rational and emotional equity metrics.
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Using both rational and emotional equity metrics, the model provides a market classification for placing customers and prospects on a brand pyramid from top to bottom.
- Brand Lovers
- Brand Passionate
- Brand Friendly
- Brand Amenable
- Brand Indifferent
The movement over time of customers and prospects on the brand pyramid relative over time to the competition can be a benchmark of progress.
The model also seeks to evaluate the impact of brand power on its ability to support a price premium in the marketplace. A legitimate question for luxury brands like Mercedes, Ritz Carlton, GE and Hertz is the degree to which they can support the price premium differential in the face of the market competition. A well differentiated brand should withstand this market test. Market Probe can offer a supplemental trade-off analysis to test this support of the price premium.
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