Your Brands Vital Assets 1 Brand Name
A brand's most valuable asset can be the name itself. For one thing, a name can have inherent selling power when the word(s) stand for something that showcases and explains the uniqueness of the product or service. By this measure, for example, Vapo-Rub is more valuable, more descriptive, than Formula 44, and Mercury Cougar promises much more than Hyundai Elantra.
Long-Term Power
But that value of "name" pales in comparison to the enormous power of those brands that have built equity after decades of consistent brand-building activities. "Diet Rite," for example, no matter how descriptive and colorful, can't approach the equity in "Diet Coke," a heritage built on a gazillion dollars of investment ad spending.
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Brand Asset Assessment Scorecard | |||||
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Vital Asset |
Range |
A. Inherent value B. Consumer awareness |
0 to 5 0 to 10 | ||
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2. Packaging and Point of Purchase |
0 to 10 | ||||
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3. Reach and Frequency A. Smart segmentation 1, 2, or 3 |
A. What you say B. How you say it C. 4A + 4B X 3B |
0 to 10 0 to 10 0 to 60 |
A. Strategically-sound policy B. (Deduct coupon promotions) |
0 to 5 0 to -12 | |
|
6. Consistency |
0 to 5 |
A. Geographic breadth B. Depth and cost |
0 to 6 0 to 6 | ||
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8. Newsworthiness / Public relations |
0 to 5 | ||||
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9. Likeability |
0 to 5 | ||||
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10. Trade Support |
0 to 5 | ||||
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11. Sales Force |
0 to 10 | ||||
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12. User Profile |
0 to 5 | ||||
|
13. Product Performance Customer perception of |
0 to 5 0 to 5 | ||||
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14. Repurchasing |
0 to 5 | ||||
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15. Actionable Research (Deduct for useless research) |
0 to 5 0 to -5 | ||||
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16. Value / Pricing |
0 to 10 Total | ||||
Figure 1.1 The Brand Asset Assessment Scorecard. Copy this and use it as you read this chapter.
Continue reading here: Yellow Pages As A Mirror Of A Market
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