Brand Image and Brand Equity
A brand is the essence of a company’s identity; its name, logo, marketing messages and customer interactions are all elements of their brand message. A strong brand triggers favorable associations in customers’ minds that can influence purchase decisions and impact a company’s bottom line. Brand Image/ Brand Equity research puts a value on the strength of a brand by examining consumer perceptions and measuring a company’s mindshare in a market.
Relevant Questions:
- What is our brand image?
- What are our strongest brand attributes?
- What changes do we need to make to improve our image?
- How do customers perceive our brand performance verses our competitors?
How does Brand Image/Brand Equity research benefit my company?
MDRG believes that an accurate understanding of your brand’s value is paramount to your success. We design custom research using the MDRG Brand Equity Model ® to evaluate the equity in your brand and provide management with relevant feedback to make improvements.
Brand Image/Equity research will provide insights to:
- Make adjustments to marketing communication to address weaknesses in brand image
- Leverage your brand image to increase profits and market share
- Attract new customers
- Create new products through line extension opportunities
- Uncover elements of competitive advantage to communicate in positioning statements
