The value of a brand – referred to as its equity – is determined by a number of influences and factors. In combination, these increase both the market value of a brand as well as the measurable value to the business. This is important for any business as it determines what the brand is worth if the brand is bought, sold or licensed and also provides a business case for investment in the brand – whether seeking funding from external investment or pitching for support from the business itself.Brand equity is a set of assets (and liabilities) linked to a brand that adds to (or subtracts from) the value provided by a product or service to a firm’s customers. Components of Brand Equity are:• Awareness• Perceived Quality• Brand Associations• Brand Loyalty• Proprietary Brand Assets like trademarks , patents , channel relationships

Brand AwarenessBrand awareness is related to the strength of the brand node in memory, as reflected by consumers’ ability to identify the brand under different conditions. Brand awareness consists of 1) brand recognition reflecting the ability of consumers to confirm prior exposure to the brand and 2) brand recall reflecting the ability of consumers to retrieve the brand, when given the product category, the needs fulfilled by the category, or some other type probe as a cue.Brand awareness can be characterized according to depth and breadth. The depth of brand awareness concerns the likelihood that the brand can be recognized or recalled and the breadth of brand awareness relates to the variety of purchase and consumption situations in which the brand comes to mind. Brand associationsA brand association is any mental linkage to the brand. Brand associations may include, e.g., product attributes, customer benefits, uses, life-styles, product classes, competitors and countries of origins. The association not only exists but also has a level of strength. The brand position is based upon associations and how they differ from the competition. An association can affect the processing and recall of information, provide a point of differentiation, provide a reason to buy, create positive attitudes and feelings and serve as the basis of extensions. The associations that a well-established brand name provides can influence purchase behavior and affect user satisfaction. Even when the associations are not important to brand choices, they can reassure, reducing the incentive to try other brands. Brand associations may take different forms. One way to distinguish among brand associations is the level of abstraction, that is, how much information is summarised or subsumed in the association. Within this dimension, the types of brand associations can be classified into three major types of increasing scope: 1) attributes, 2) benefits, and 3) attitudes. Several additional distinctions can be made within these types according to the qualitative nature of the association. Figure 3 illustrates the main types of brand associations.

Brand loyaltyBrand loyalty represents a favorable attitude toward a brand resulting in consistent purchase of the brand over time. It is the result of consumers’ learning that only the particular brand can satisfy their needs. Two approaches to the study of brand loyalty have dominated marketing literature. The first, a behavioral approach to brand loyalty, views consistent purchasing of one brand over time as an indication of brand loyalty. Behavioral measures have defined loyalty by the sequence of purchases and/or the proportion of purchases. Repeat purchasing behavior is assumed to reflect reinforcement and a strong stimulus-to-response link.The second, a cognitive approach to brand loyalty, underlines that behavior alone does not reflect brand loyalty. Loyalty implies a commitment to a brand that may not be reflected by just measuring continuous behavior. A family may buy a particular brand because it is the lowest-priced brand on the market. A slight increase in price may cause the family to shift to another brand. In this case, continuous purchasing does not reflect reinforcement or loyalty.

Perceived qualityPerceived quality can be defined as the customer’s perception of the overall quality or superiority of a product or service relative to alternatives. Perceived quality cannot necessarily be objectively determined, because perceived quality itself is a summary construct.Perceived quality is valuable in several ways. In many contexts, the perceived quality of a brand provides a pivotal reason to buy. It is influencing which brands are included and excluded from the consideration set and which brand is to be selected. A principal positioning characteristic of a brand is its location within the dimension of perceived quality. A perceived quality advantage provides the option of charging a premium price. The price premium can increase profits and/or provide resources with which to reinvest in the brand. Perceived quality can also be meaningful to retailers, distributors and other channel members and thus aid in gaining distribution.

Other proprietary assetsOther proprietary assets such as patents, trademarks and channel relationships. If managed well, these assets add value to the product or service and create additional customer satisfaction, which, in turn, provide a number of benefits to the firm.

The monetary value of a brand – or its equity – is a total measure of the brand’s impact on both the company and its market. This measurement is represented by its constituent elements in the diagram (right).Determining the value of a brand is also important in business deals where the brand is licensed. What is a brand worth when one company may license the brand of another, particularly if the ‘host’ company is providing other benefits rather than the brand itself?Fashion and interior designers have long played on the equity of their own brands. It is a common tactic for top designers to lend their name, and specific designs, to department stores or retail brands. When international supermodel, Kate Moss, teamed up with the iconic fashion retail shop, Topshop, she effectively licensed her image, as her audience buys into her ‘look’ – her design skills are less important than her image. Moss signed a £3 million deal to design her own collection and, since its launch, her ranges have immediately sold out. Designer, or supermodel, collaborations may be expensive but can greatly boost the image of the host brand.

Strategy and policies to develop brand equityThe literature review reveals further that brand equity provides value for both the customer and the firm. Brand equity creates value to customers by enhancing efficient information processing and shopping, building confidence in decision making, reinforcing buying, and contributing to self-esteem. Brand equity creates value to firms by increasing marketing efficiency and effectiveness, building brand loyalty, improving profit margins, gaining leverage over retailers, and achieving distinctiveness over the competition.Building Brand EquityBrand equity is built firstly, by creating positive brand evaluations with a quality product, secondly, by fostering accessible brand attitudes to have the most impact on consumer purchase behaviour, and thirdly, by developing a consistent brand image to form a relationship with the consumer.The first element in building a strong brand is a positive brand evaluation. Quality is the cornerstone of a strong brand. A firm must have a quality product that delivers superior performance to the consumer in order to achieve a positive evaluation of the brand in the consumer’s memory.Three types of evaluations can be stored in a consumer’s memory: 1) affective responses, 2) cognitive evaluations and 3) behavioral intentions. Affective responses involve emotions or feelings toward the brand (e.g., the brand makes me feel good about myself, the brand is a familiar friend or the brand symbolizes status, affiliation or uniqueness). Cognitive evaluations are inferences made from beliefs about the brand (e.g., the brand lowers the risk of something bad). Behavioral intentions are developed from habits or heuristic interest toward the brand (e.g., the brand is the only one my family uses or the brand is on sale this week).The second element in building a strong brand is attitude accessibility. It refers to how quickly an individual can retrieve something stored in memory. Stored evaluations can be retrieved from memory in two ways. Automatic activation occurs spontaneously from memory upon the mere observation of the attitude object. Controlled activation requires the active attention of the individual to retrieve a previously stored evaluation or to construct a summary evaluation of the attitude object.The third element in building a strong brand is to have a consistent brand image. Consistency of the brand’s image is a part of managing the relationship between the consumer and the brand. A relationship develops between the personality of the brand and the personality of the consumer with each purchase.

Young & Rubicam Brand Asset ValuatorInternational advertising agency, Young & Rubicam, have a well-known model called the Brand Asset Valuator (BAV) that is based on what consumers think about brands. It tracks the ‘consumer equity value’ of a brand, which is gauged from a comparative measure against its competition, based on an annual survey of 38,000 brands across the world. It is a valuation that also ties in with financial analysis so that the brand’s contribution to a company’s value can be determined.BAV works in the following way: the ‘Brand Strength’ is based on ‘differentiation’ (D in the facing diagram or ‘powergrid’, signifying the extent to which a consumer will choose that brand) and ‘market relevance’ (R). This creates the brand’s future value. In contrast, ‘lagging indicators’, which show the Brand’s Stature, are based around the brand’s ‘esteem’ (E) and ‘knowledge’ (K). Together, these four aspects of the brand demonstrate a pattern that can determine where the brand fits in the marketplace.

Brands at different stages of their life will tend to show similar patterns – for example, a young, recently launched brand will have low scores overall, while a new brand with strength will display strong levels of differentiation but not relevance. This methodology not only helps to gauge a brand against its competitors and better understand consumer perceptions, but also reveals whether the brand is in a healthy position to be extended.

Differentiation (Point of difference , How is the brand different from the rest of the world, What does it offer which others are not offering)

Relevance (Is it relevant to significant segment, does it attract a large customer base , house hold penetration)

Esteem (Quality perception ) Knowledge (What brand stands for, awareness , recognition , recall)

Customer-based brand equityThe basic premise with customer-based brand equity is that the power of a brand lies in the minds of consumers and what they have experienced and learned about the brand over time. The advantage of conceptualizing brand equity from the consumer’s perspective is that it enables managers to consider specifically how their marketing program improves the value of their brands. Though the eventual goal of many marketing programs is to increase sales, it is first necessary to establish knowledge structures for the brand so that consumers respond favourably to marketing activity for the brand.Customer-based brand equity can be defined as the differential effect that brand knowledge has on consumer response to the marketing of that brand. There are three key ingredients to this definition: 1)”differential effect”, 2)”brand knowledge”, and 3) ”consumer response to marketing”. First, brand equity arises from differences in consumer response. If no differences occur, then the brand can essentially be classified as a commodity or generic version of the product. Second, these differences in response are a result of consumers’ knowledge about the brand. Thus, although strongly influenced by the marketing activity of the firm, brand equity ultimately depends on what resides in the minds of consumers. Third, the differential response by consumers that makes up the brand equity is reflected in perceptions, preferences, and behaviour related to all aspects of the marketing of a brand.The 4 Fundamental Questions

Who are you? (Brand Awareness) What do you do? (Brand Knowledge) What do I think about you? (Brand Attitude) What about you and me? (Brand Relationship)

Quantifying the value of a brand:a. Financial forecastingthe revenue that is generated from products and services. Interbrand analyses both the tangible and intangible assets of the business to determine their Economic Value Added (EVA). In Interbrand’s ‘Best Global Brands’ report of 2008, EVA is described as a ‘value-based management concept’. It determines the ability of the (branded) business to generate returns above what is invested into the business. To calculate this, Interbrand identifies the ‘branded revenue’ that is generated from products and services. It then deducts the brand’s invested capital – such as its operating cost, employment bill and taxes – to get the economic value of the branded business.b. The role of brandingThis identifies business earnings that are attributable to the brand. This is dependent on the sector in which the brand operates, as the brand may be a key driver for purchasing in the fashion or fragrance sector, but may only be one attribute of many in the business-to-business sector.For example, while Intel has a strong brand, many people will be using it because of its bundling with Windows-based computers, rather than necessarily choosing to purchase an Intel-based computer.c. Brand strengthThis assesses the risk profile of the current brand value. A risk profile may look at a brand’s future vulnerability in its particular sector (for example, retail banking brands are particularly vulnerable during the ‘credit crunch’ period as people have lost trust in these brands). This risk factor is discounted from the brand’s current value.

There are a number of factors that are accounted for in the measurement process:the brand’s leadership, stability, market dynamics, internationality, trends, support and protection. In 2008, Interbrand’s top five brands were (in descending order) Coca-Cola, IBM, Microsoft, GE and Nokia respectively.

Interbrand, a UK based consulting co. Criteria includes business prospects and brand’s market environment, as well as consumer

perceptions Brands evaluated on 7 criteria:

Leadership (25%) Stability (15%) Market (10%) International (25%) Trend (10%) Support (10%) Protection (05%)

Brand structuresBrand structure is also known as brand architecture and provides a map of relationships between all of the brands in a company’s portfolio. It helps companies to define the relationship between the different brands and provides an overview that is easily managed. The brand structure will cover a picture of the whole brand ‘family’, including the relationship between the parent brand and its sub-brands, the relationships among sub-brands themselves and also to brand extensions.A brand structure helps the brand manager understand the role and contribution of each brand to the overall success of the business. It can facilitate decisions on how to invest in specific brands, or whether they should be disposed of, rebranded or retired. It should also offer a clear view of which brands are owned by whom, as well as the distinctive benefits of each brand.Types of brand structuresBrand structures are not necessarily visible to the customer and may not impact on their choice of brand. For example, large consumer-goods companies such as P&G or Unilever both own a number of different fast-moving consumer goods (FMCG) brands (including toiletries and home care products like washing powder). Brands within the same family may also compete with each other for the consumer’s wallet.There are 6 Branding Strategies:

1. The Product Brand This strategy involves assignment of a particular name to one, and only one, product. Each new product receives its own brand name and a unique positioning. Here, the brand, the name of the product becomes a strict indication of identity. E.g. Procter & Gamble and HLL

2. The Line Brand This strategy involves offering one coherent product under a single name, by proposing many

complementary products. This involves offering one product, and then extension of the offer by including several related

products within the same specific offer. E.g. Studio Line from L'Oreal

3. The Range Brand Range brands bestow a single brand name and promote through a single promise a range of

products belonging to same area of competence.4. The Umbrella Brand

Under umbrella brand strategy, the same brand supports several different products in different markets.

Each product has its own advertising tools and develops its own communication. Yet each product maintains its own generic name. E.g. Canon- Canon cameras, Canon Fax machines, Canon photocopiers, Canon printers etc.

5. The Source Brand This is similar to umbrella brand strategy with the only distinction that products are directly

named. (Instead of a generic name). It provides a two-tiered sense of difference and depth – that is by identifying source/ parent

brand while at the same time providing a distinct identity through the daughter brand.6. The Endorsing Brand

The endorsing brand gives its approval to a wide diversity of products. It acts as a guarantor of quality. It allows dual brand equity to develop. Brand endorsement can be indicated in a graphic manner by placing the logo/emblem of endorser

next to brand name. E.g. Nestle, Polo ‘Ralph Lauren’

The corporate brandThe corporate brand role depends on how prominent the company is in the brand proposition. It may include elements of social or business conduct, the relationship with suppliers and distribution channels and also be the employee brand (or internal facing brand). Pure corporate brands are rare, but include companies such as General Electric and Philips, where all the products reflect the same

brand as the company. It is the same as The Umbrella Brand.

WHY EXTEND THE BRAND?(Benefits of Extension)

To energize the brand & aid innovation- helps identify logical new product categories. Helps capitalize paid-for equity in established brand names. Helps enter new product categories at significantly lower costs. Helps beat product obsolescence. Risk reducer for both the firm as well as consumers. Benefits of “spillover of advertising”. Helps expand core promise to new users. Helps block or inhibit competition.

Types of Brand Extensions Product Form Extension Companion Product Customer segment Company Expertise Brand Image or Prestige

Six Factors Affecting the Success of Private Brand•Quality of store brand relative to national brands is high. •The quality of store brand is consistent over a period of time.

•The product category is large in absolute value terms in store’s sales revenue. •The percentage of gross margins in the product category is high •The number of national players is fewer than in other categories. •National advertising expenditure in the product categories is low.Economics of Private LabellingThe figure has been constructed with the underlying assumption that (a) it is technically feasible for the store to introduce its own brand (b) the competitive scenario does not change the position from one quadrant to another and (c) the switching costs for the consumers are not high, per sé .

Quadrant I: Low-Low•This quadrant represents a situation in store where both types of competition are low.•A category that manifests low competition in both dimensions may be, per se, unattractive for private label.•Such a phenomenon may be caused by1.High degree of commoditization2.Low importance of the product category for the customers3.High input-output ratio in manufacturing.•The retail store may never enter such a category with its own labelQuadrant II: High-Low•This quadrant represents high competition between the store’s brand and the major National brand and low competition among National brands.•This occurs when consumer’s affective Attachment to national brands is high and Achieving brand loyalty is a short-term process.•The retail brand will not suffer from me-too Syndrome.•The store is better off launching its brand.Quadrant III: Low-High•This quadrant represents high competition Among national brands but low competition Between the store brand and national brands.•This happens when national brands are highly advertised and the customer’s awareness Of those brands is high, both cognitive and Effective, while facing the store brand on their Visit to the store.

•Therefore, if the store assesses its position In this quadrant, it is better off not launching Its brand.Quadrant IV: High-High•This quadrant depicts an all-out competition among the national brands and if the store Introduces its private label, it will come under Direct fire as much as it will be caught in the Cross-fires of the national brands.•Therefore, it is expected that a store that Views itself in this quadrant is better off not Introducing its private label.Evidently, the quadrants in Figure 1 can be influenced by the strategic approach by the retailer. For example, if the store reckons itself falling in Quadrant III which prescribes non-introduction of the store-brand, it can generate competition between its brand and the national brand by aggressive in-store promotion of its top Private Label versus National Brands.This shifts the in-store context from Quadrant III to Quadrant IV in the short-run and eventually, once customer loyalty for the store brand has been built up to Quadrant II, which is favourable to the store-brand.

For consumers who are already brand-savvy, luxury names come under one of two distinct titles: classic brands and high fashion brands. Classic names include Chanel, Gucci, Salvatore Ferragamo, Balenciaga, Christian Dior, Louis Vuitton and Prada –names that suggest enduring value. Among the contemporary brands that command consumers’ attention are names like Armani, Versace, D&G, Moschino, Calvin Klein, Hugo Boss and Ralph Lauren. The luxury consumer in profile delivered a fascinating profile of the Indian luxury consumer, leaning on the latest study by research group KSA Tecnopak:•Primarily resident in urban India•Lives in a household earning more than about INR800,000 (US$18,000) a year, where the chief wage earner is male, average age 36–37•Owns a premium/luxury saloon car such as a Honda Accord, a Vectra, a Skoda Octavia etc.•Among women consumers, 65%are housewives•Most are educated to post-graduate level•Incidence of foreign travel is 53%, 44% travelling abroad for holidays at least once a year.The KSA study categorizes luxury households into segments according to their attitudes to luxury goods purchasing:•The Arrived: This is the most affluent group, comprising 49%of the target audience of luxury goods companies.•The Actualized Ascetic: This group comprises largely self-made men, professionals or businesspeople who are in their late 40s or early 50s. This is the smallest group (15%of the target audience).•The Climbers: As the name suggests, this group wants to project a lifestyle image that will gain them acceptance into the higher echelons of society, yet many lack the discernment that comes with exposure to luxury brands and wealth over a long period. These are 19% of the target universe for luxury brands, says the study.•The Laggards: Although well-heeled and targeted by luxury brands, this group remains nonchalant about luxury goods consumption. This group comprises a high proportion of college drop-outs and graduates who are in business or work as office executives. This group is 17% of the target consumer base.

Five key forces that are shaping today’s luxury mindset:•Growing incomes coupled with optimism about the future.•An expanding upper class, creating large peer groups and reference groups for aspiring consumers. The new Indian mindset is deeply rooted in social hierarchy, with those who want to make the leap into the higher strata of society imitating the prestige purchases of those they imagine are above them in the hierarchy.•Money, wealth and consumerism are emerging as the undisputed measures of success and a life well lived.•First-hand exposure to products and lifestyles overseas. Over 6 million Indians travelled overseas in 2004: 22% to the US, 24% to Europe and 34% to Southeast Asia•The influence of the media, coupled with the greater availability of lifestyle products and services in the last five years.What is a signature brand? The word signature can be defined as a “distinctive pattern, product or characteristic by which someone or something can be identified.” A signature brand is an original, cohesive design based on the personality of your company that is carried across all print, digital and web communications. Why is it important to have a signature brand?People remember you. People take notice when they see the same unique brand repeatedly, and they remember you and your company. Down the road, when they need your product or service, you’re the one that they will call first. On the other hand, that person may never need your product or service, but they may run across a friend, family member or professional contact who does. Having a signature brand increases awareness and visibility among your current clients, potential clients and your personal and professional networks. You don't look like the business next door. In this day and age it’s easy to do it yourself. There are plenty of inexpensive or free templates online for everything from logos and business cards, to brochures, catalogs and web sites. The problem with those templates is, that while they may look nice enough, they aren’t unique to your business. You will be using the same template as hundreds of other businesses, and your company won’t stand out. If your brand isn’t unique and memorable, and doesn't reflect the personality of your company, you will miss out on potential opportunities. It portrays a professional image. Having a signature brand created by a trained graphic designer makes you look more professional, which increases credibility for your business. Educated designers go through years of training about the history of graphic design, color theory, use of typography, photography and study under seasoned designers. There are sound reasons why we choose that particular placement for the logo, that font, that image and those colors. All these elements combine to create an emotion that speaks to people about your company. The emotion could be traditional, whimsical, progressive or intellectual. Your signature brand speaks volumes to your audience, so you want to ensure you portray the right image. What happens when people remember you, you don’t look like the business next door and you portray a professional image? Your client base rises, your client retention rises, which in turn helps your profits rise.The globalization of fashion brands has occurred as major fashion designer houses have expanded their product ranges and diversified into middle-market diffusion lines. Central London has been the

target for some of this development activity in the 1990s. Charts the growth of designer outlets in the UK capital with particular attention to foreign companies and their market-entry strategies.As countries around the world are starting to recover from the global financial crisis, the luxury industry is recovering as well. The fastest growing luxury goods are electronic pieces, such luxury mobile phones, and the weakest is travel goods.1 Within the US though, consumer of luxury goods are starting to become more price-conscious and are buying one-of-kind items (clothing/accessories/etc) that hold special emotional ties, rather than expensive, mass-produced luxury goods.2 Despite the comeback, the luxury industry still faces the same challenges as other industries, including high commodity prices (cotton, leather, silk and cashmere) linked to natural and man-made disasters (floods in Pakistan and China, flood in Australia, loss of silk trees from the urbanization of Shanghai, a harsh winter in Mongolia) impacting the supply chain, as well as high transportation costs due to the rising fuel costs.3 The story and impact of luxury is the story of globalization. This analysis will examine the history of the luxury industry, the rise of China, and the industry’s impact on global culture.Most clothing, jewellery, and accessory brands, such as Hermes, Louis Vuitton, Chanel, Dior, Armani, Cartier, Versace, etc started out as small French or Italian family businesses, centered around a creative designer. In the 1970’s, many of the French firms, suffered from a variety of management and ownership problems. These firms lacked capital and were not yet mass-marketing their wares.4 The 1980’s saw a revitalization of luxury firms. One reason was the use of celebrities to promote brand awareness, such as using the Academy Awards to showcase designer clothing.5 Another reason was the influx of capital to these firms. Leading this trend was real estate manager Bernard Arnault, who took control of Agache-Williot-Boussac-Saint-Frères and only kept the kept its affiliate Christian Dior. Arnault soon thereafter took control of Louis Vuitton and Moët-Hennessy, and united them under LVMH. From 1985 to 2006, he took over 64 brands. In the 1990s, the luxury firms started employing new strategies either diversifying their products toward mass consumption and/or focusing on select high-quality goods. Hermes and Vuitton followed the latter by increasing the quality of their product and by increasing the number and skills of its craftsmen. LVMH also epitomized the strategy of diversification, segmentation, and differentiation, as it sought to balance the market share and individuality of its various brands. Differentiation was achieved through mass production and luxury production, ensuring that the luxury products had enough distinction to justify their price. Diversification was achieved through enlargement of the scope of products offered, such as cosmetics and other accessories9 In search of increasing profit (and perhaps relevance), the luxury industry had become democratized.Global Branding StrategyBrand strategy is aimed at influencing people’s perception of a brand in such a way that they are persuaded to act in a certain manner, e.g. buy and use the products and services offered by the brand, purchase these at higher price points, donate to a cause. In addition, most brand strategies aim to persuade people to buy, use, and donate again by offering them some form of gratifying experience. As branding is typically an activity that is undertaken in a competitive environment, the aim is also to persuade people to prefer the brand to competition.A global brand needs to provide relevant meaning and experience to people across multiple societies. To do so, the brand strategy needs to be devised that takes account of the brand’s own capabilities and

competencies, the strategies of competing brands, and the outlook of consumers (including business decision makers) which has been largely formed by experiences in their respective societies. There are four broad brand strategy areas that can be employed.(1) Brand Domain. Brand domain specialists are experts in one or more of the brand domain aspects (products/services, media, distribution, solutions). A brand domain specialist tries to pre-empt or even dictate particular domain developments. This requires an intimate knowledge, not only of the technologies shaping the brand domain, but also of pertinent consumer behaviour and needs. The lifeblood of a brand domain specialist is innovation and creative use of its resources.(2) Brand Reputation. Brand reputation specialists use or develop specific traits of their brands to support their authenticity, credibility or reliability over and above competitors. A brand reputation specialist needs to have some kind of history, legacy or mythology. It also needs to be able to narrate these in a convincing manner, and be able to live up to the resulting reputation. A brand reputation specialist has to have a very good understanding of which stories will convince consumers that the brand is in some way superior. (3) Brand Affinity. Brand affinity specialists bond with consumers based on one or more of a range of affinity aspects. A brand affinity specialist needs to outperform competition in terms of building relationships with consumers. This means that a brand affinity specialist needs to have a distinct appeal to consumers, be able to communicate with them affectively, and provide an experience that reinforces the bonding process. A brand affinity specialist is like a pet dog.(4) Brand Recognition. Brand recognition specialists distinguish themselves from competition by raising their profiles among consumers. The brand recognition specialist either convinces consumers that it is somehow different from competition, as is the case for niche brands, or rises above the melee by becoming more well-known among consumers than competition. The latter is particularly important in categories where brands have few distinguishing features in the minds of consumers. In some cases, a brand recognition specialist needs to be able to outspend competition to gain unbeatable levels of awareness. In other cases, a brand recognition specialist needs to convince a loyal following of consumers that it is unique.Measuring the brand performanceThe increasing demand for brand valuation reflects the sophistication of the branding sector as well as the proliferation of different kinds of media. The ability to gauge how a brand is commonly perceived – both among customers as well as how it is conveyed and written about across media – is vital in judging how the brand or company is performing. Brand measurement and monitoring help marketing agencies (such as brand, public relations and advertising agencies) to determine whether the brand objectives are being met and, importantly, to prove their value to the client by showing what they have achieved.What creates value?While a company’s share price can be an indicator of brand strength, it should not be viewed in isolation (and share prices are only applicable to publicly listed companies). A brand’s success will be measured by the impact of the product, service and business that underpins the brand. This includes its perception and reputation among its stakeholders; the leadership of the business; its ability to differentiate and stay ahead of competitors; its ability to innovate and adapt; as well as its market share, margins, scale of presence and products sold. Measuring a brand’s performance, therefore, is complex because a brand is affected by so much more than just financial indicators.