Tag Archives: Sloan

Because even we don’t know everything

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Sometimes even creative professionals need a little more education.

We were sitting around yesterday discussing different ways to increase the long-term value for our clients brands. And during the meeting someone said, “so the question is: are there other ways, in addition to what we are doing, to measure brand equity?” To which one of team said, “Brand equity, is that like home equity?” Brand Equity Basics – it sounded like a great blog topic to me, at the time.

What is Brand Equity?

In a nut shell it is the difference between of benefits between having a brand name as opposed to not having one. When your brand is well-known enough then you can charge people more money, or premium prices, for your product. A few examples of brands that are able to sell at premium prices include; Nike, Adidas, Apple, Chiquita bananas, VW and TOMS. And a couple of non-name brands include companies like; Jewel Companies Generic Cola and Kroger’sNaturally Preferred. But even house brands are beginning to gain brand equity, like Boots skin care products being sold at Target in the US. However, in the ever-changing world of marketing even generic brands such as No Name Brand is growing brand equity and using it to increase prices for products.

What isn’t a Brand?

Because everyone seems to believe that they understand what a brand is – I thought it might be a good moment to write about what a brand isn’t. A brand isn’t a logo – according to Marty Neumeier – and that is a key thing to remember. That means that things like the Nike Swoosh, the 3-strips from Adidas, the golden arches of McDonald’s or the white apple from Apple is not a brand, but a logo. This is a key thing to remember and not get confused about.

How we attempt to measure Brand Equity?

A brand’s equity is ultimately derived from the actions and words of consumers. As marketing professionals we are constantly testing ways to effectively measure the value of a brand for stakeholders. There are three key levels for measuring a brand are at the corporate, product and consumer level.

Corporate level – This is where a firm makes a calculation regarding how much the brand is worth as an intangible asset.

Product level – This is a measurement where one compares the price of a no-name or private label product to an “equivalent” branded product. This is very difficult when you are attempting to predict the worth and achieve FMA.

Consumer level – Attempts to map the mind of the consumer to find out what associations with the brand the consumer has. In this case high brand equity is associated with strong and favorable high levels awareness.

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The beginning of a long travel begins with a small decision – a call to arms for Transmedia Research

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The beginning of a long travel begins with a small decision – a call to arms for Transmedia Research

For the past six-months I have asked myself, ‘Is Transmedia storytelling a popular phenomenon or does it have a lasting effect for people using social media?’ We, at Newman Partnership, Ltd. realize that the best way to confirm if this true is to do some research.
One of my favorite ways to pass an already busy afternoon.

The New GenerationOur research will attempt to discover if: 1) Are people actually retelling stories that they see in new ways or expanding on previous stories – either from entertainment or popular advertising – or engaging when commercials ask you to send in your stories or ask for your insights? And 2) are these heavy and/or light users of social media. We are attempting to discover if people are becoming more involved in the transmedia process? And if light users of social media are growing in their usage of storytelling.

What is Transmedia?

“Transmedia storytelling is a technique of telling stories across multiple platforms and formats.” – Wikipedia Definition

Transmedia marketing is an emerging marketing technique developed to interact with audiences across multiple forms of marketing to develop brand and product awareness.

Transmedia campaigns encourage audiences to engage in the marketing process by mixing social media with classical marketing techniques.  It is a conversation between the marketing department and the target audience.  This conversation is created when the company provides opportunities for the audience to develop or recreate the original story under new narratives. And it is not simply a top-down corporate advertising or marketing campaign but a combination of top-down and grass-roots bottom-up.

Who are we looking for?

The Important InformationI am looking to interview men between 16-35 years of age. Who are using social media in some form on a bi-weekly rate.

If you are interested, or think that you have information that would be interesting to this research then please don’t hesitate to contact me directly at sloan@newmanpartnership.com.

What will it cost you?

If you just drop me an email to asking to participate in this research, then I will add you to our contact book and contact you in the next few weeks about completing questionnaire online. The questionnaire will only take about 10 to 15 minutes, and your answers will prove invaluable in the future.

In the coming weeks, I will also be approaching several Transmedia agencies to see if they might be interested in becoming involved in this research. If you are an agency, then please contact me to find out more.

Where will the interviews be?

Interviews will be conducted using an online research technique, and face-to-face interviews will also be conducted when possible.

What will your time mean?

By contributing to this research you will be helping to discover and better understand how people are using the social media to influence stories and advertising. It is my hope that this initial research will help to draw enough conclusive lines to encourage a quantitative research in the future.