Idea About Brand Strength

While a brand’s original sales in the marketplace are hyped about everywhere, there is something called “brand strength” or “brand equity” that holds certain abstract values. Those are quite different from the original sales. Brand strength, in simple terms, can be defined as the strength of the brand in the eyes of the customer and its demand in relation to the competitors in the market.

What renders brand strength the importance?

So, just by looking over the marketplace it is next to impossible to gain firsthand experience on the factors that brand strength is dependent upon. However, the performance or as the term goes “brand strength” can obviously be detected to a certain extent, if not entirely, by looking closely on the figures and data of the relationship status between brand and public. A big and successful brand is generally considered to be full of brand strength. But, if we shed off all our pre-conceived notions, then our focus would be on analyzing the data on sales. The experts would be able to give a critical view of the company’s real strength in the market.

What are the factors that evaluate brand strength?

Consumer’s mind is perhaps the best way to find out the brand strength. David Aaker from The University of California suggests that each of the brand’s product that a consumer purchase has small boxes of the brands in his/her mind. When they see the brand name, all the associated information is ticked on in their minds immediately. Images are formed in their minds and feelings are developed. All of these can either be on the affirmative or negative side. However, this can often prove harmful for the brands because of the way too simplistic way that the mind functions.

•    Is there at all a box of a certain brand? Is that easy enough to spot?
•    What’s in store in the mind’s box? This can have a lot of paradigms in it. 
•    What is the consumer’s response to a certain brand? Is it affirmative, or negative or entirely blank about the very existence of the brand?

All of these work to a great extent to determine the brand strength.

How does the brand understand its strength from this?

If an image associated with a certain brand brings a smile of satisfaction or a sense of loyalty to that brand in the customer’s words – then, the brand has quite a strength. Again, if many people talk about it in their peer groups or heard of it frequently, or even think about its products or services – there proves the strength of the brand. If the consumers think of operational benefits related to the brand – then indeed, the brand strength becomes evident.

What can brand strength estimate?

Brand strength, if evaluated correctly or even anticipated in the right track can give you a possible idea of future performance and profit streams. 

What is ultimately significant is that – if the customer is just affirmative to a brand’s quality or actually purchasing its products and express satiety. Consumer behavior is what stands at the altar of importance – is the consumer purchasing the brand’s product and services? Are they sticking to a particular brand? Are they interested in using more products from the same brand? Finally, what impact do all of these have on the annual sales of the brand? 

A major concern however remains. Is the use of the brand a mere habit of years? Or is it because they adore the product and that forms an inseparable part of their lives? Once all of these are sorted and evaluated by the brand, determining its strength becomes much easier.