Measuring Brand awareness Part 2

1. Brand Equity
   

   "The differential effect that brand awareness and brand associations have on consumer response to the marketing of that brand"
   

   Methods to Measure the brand equity:
   

• Self-Reports (overall brand evaluation also known as attitude toward the brand)
  
• Experience (It is called blind testing in which two groups are involved first group might test the non branded product and second will be testing branded product)
  
• Conjoint Analysis (techniques to measure the value of each product attributes such as technical attribute, warranty, price level the brand etc.)
  

1. Brand Value
   

   "The financial value of the brand"
   

   Methods to measure the Brand Value: Two main valuation approaches are used to measure brand value.
   

• Cost approach (Brand equity is amount of money that would be required to reduce or replace the brand like R&D, test marketing, advertising etc.)
  
• Market approach (Brand equity is the present cash flow value derived from the brand's future earnings)