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If there is anything like a final word within the Marketing discipline, it's brand.
Yet, it's surprisingly rare to find an explicit connection between day-to-day work and the brand. Why? We believe that despite all the talk, it's still viewed as an intangible. Parametric takes a very different view. We say:
- Brand is not an intangible - it can be measured
- Brand is a core attribute of a product or service - it should be valued appropriately
- All choices affect brand either positively or negatively - so it can be developed to provide future value
While the annual studies of aggregate company brand value are interesting - We read them! - they don't give companies clear direction for how to develop brand value. All too often, developing the brand is code for "do more advertising" or "make the package more attractive."
We're often asked by clients to help assess the performance of products or programs. In many cases, their questions are really brand value, fit and development questions:
- I'm not sure why we're underperforming in our market. Our products are technologically excellent. Is there brand fit problem? Can it be overcome?
- Why is our pricing power in one of our portfolio categories so low?
- A large competitor has just invested in a significant, modern product. How can I tell what the effect of that is on the minds of my future clients? Is there a way I need to position myself that will better defend me from attrition?
- How much should we spend on merchandising per store? What's the return I'm getting on my merchandising spend?
- We always focus on price promotions that devalue our product. What are the alternatives that add value or cost less?
To get at complex brand value analysis questions, we use a range of analytical techniques, including:
- Message testing using MaxDiff
- Competitive positioning testing using conjoint analysis
- Brand value/premium analysis using regression-based techniques
To talk with us about how we might help you with a tough brand question, contact us.
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