For Marketing: Quite simply, 'Brand is King'.
The stronger a brand equity in a consumer or shopper's mind then the more it is 'worth' to them.
Understanding how shoppers consider a product and its worth to them, is key when deciding the positioning, pricing and also the promotional expectations.
A stronger brand equity will return a higher uplift when promoted as there is a higher 'WOW' factor making the offer even more appealing than the same offer on a weaker brand.
Our proprietary analytics tools can not only measure the comparative strength (in a shopper's mind) of your product versus all others in the category, it also shows the brand strength trend year on year.
This helps when deciding if your brand equity is currently strong enough versus your competitive set or if you need to increase brand equity building activities (ATL or BTL).
AiM Shopper Brand Equity Measure
AiM find the statistical relationship between:
Price and volume are barometers of how shoppers value a brand i.e Brand Strength or Equity at Retail.
Using AiM's unique relationship models, we help brands to extract the maximum profitability available from the current equity.
Is your product's Brand EAR (Equity at Retail) strong enough to promote profitably? Stronger than competitors?
Brand EAR (Equity at Retail) Matrix (below) shows the latest SKU strength measure and the growth trend for each SKU and versus the category (red lines and star = category average).
Top-right sector = strong position (Price Increase?). All others Equity Investment Required.
Red dots show own products. Black dots show competitors.