Developing a brand equity measurement and management system

A brand equity measurement system is a collection of research techniques created to give marketers
timely, accurate, and useful brand information so they may make the best tactical decisions in the
near term and long term.

Customer-Based Brand Equity (CBBE):

Customer-based brand equity stresses that the power of a brand lies in what resides in the
minds and hearts of customers and approaches brand equity from the perspective of the
consumer. It is positive when consumers react more favorably to the product and is negative
when consumers react less favorably.

The three key ingredients of CBBE are:

Differential effect: If no difference occurs then the brand name product can essentially be
classified as a commodity or a generic version of the product.
The differential effect of Navya is that the clothes of different brands including Navya can be
taken for rent or brought online and from our physical stores.
• Brand knowledge: what clients experienced over time as a result of their interactions with the
brand—what they thought, felt, saw, and heard.
The brand awareness of Navya has been portrayed by the marketers as being adaptable to both
offline and online operations.
Customer response to Navya's marketing efforts has been excellent because the product is
absolutely distinctive and customers are drawn to its packaging.
• Associative Network Memory Model of Navya views memory as a network of nodes and
connecting links.
Nodes - represent stored information or concepts.
Links - represent the strength or association between the nodes.
Brand associations are informational nodes linked to the brand node in memory.
Sources of Brand Equity:
• Brand Awareness: It is related to the strength of the brand node or trace in memory.
• Brand Recognition: Since the product has only recently been released, its brand recognition is
still not particularly high.
• Brand Recall: The goods can be recalled by those who require reasonably priced rental and
purchases of trendy clothing. Because it is a new product, it is not particularly strong.
• Brand Image: It means what is the perception of the customer about the brand and a positive
brand image requires strong favorable and unique brand associations.

Navya’s brand attributes and benefits are helping it to create a positive brand image in the minds
of its customer.
Brand Equity Management System: A brand equity measurement system is a collection of
research techniques created to give marketers quick, accurate, and usable information so they
may make the best tactical decisions possible in the near term and long term.

The resources available to marketers allow them to create solid consumer-based brand equity.
They have created several strategically significant marketing communication projects using this
technique. The brand's sustainability depends on knowing how successful these programs have
been. It can be said that the approach was successful if these activities were able to boost brand
awareness and produce a favourable image among consumers. To determine whether marketing
communication campaigns are successful, a conscious effort must be made. An intentional effort
should be made to develop effective and efficient measurement systems, as well as methods for
managing them.

There are two approaches to go with measuring system design.

• One such assessment system uses an indirect approach, sorting and recording changes in the
consumer's emotional level.
• Other systems rely more on direct measurement techniques, which evaluate and analyze
consumer response to brands in terms of sales and other metrics.