Brandz Model – Measuring Brand Equity (Phlip Kotler Summary)
Developed by: Millward Brown and WPP
Marketing research consultants Millward Brown and WPP have developed the BRANDZ model of brand strength, at the heart of which is the Brand Dynamics pyramid. According to this model, brand building involves a sequential series of steps, where each step is contingent upon successfully accomplishing the previous step. The objectives at each step, in ascending order, are as follows:
- Presence. Do I know about it?
- Relevance. Does it offer me something?
- Performance. Can it deliver?
- Advantage. Does it offer something better than others?
- Bonding. Nothing else beats it.
Research has shown that bonded consumers, those at the top level of the pyramid, build stronger relationships with the brand and spend more of their category expenditures on the brand than those at lower levels of the pyramid. More consumers, however, will be found at the lower levels. The challenge for marketers is to develop activities and programs that help consumers move up the pyramid.