GfK Unveils Major New Brand Measure

GfK has announced the launch of Brand Architect, a new framework which it says bridges the gap between consumer attitudes and actual behavior, to measure the strength of brands.

The new solution combines 'all dimensions of brand performance' in a single KPI, the Brand Strength Index, an indicator of how many customers a brand can attract and the price premium it can charge, and which GfK says shows a stronger correlation to market share than traditional metrics. The tool is designed to complement existing brand trackers with more sophisticated metrics and feedback including strategic guidance on growing volume and charging a premium.

The firm says the solution is a response to the 'intense' pressure now on marketers to provide evidence of brand value, at a time when consumers' decision-making process is 'rooted in emotion, linked to their beliefs and values - and even the causes they support'. Brand Architect uses a new technique which it says replicates how consumers choose brands in real life: observing them in multiple, realistic brand buying scenarios to understand consideration set, purchase intent and willingness to pay a premium.

The group's own Global CMO Gonzalo Garcia Villanueva comments: 'CMOs must question whether their products and communications are generating a brand premium and what is the optimal amount they should spend on brand-building. Only then will they truly understand the economics of their brand and prove return on investment'.

Madalina Carstea (pictured), Head of Global Sales, Brand & Marketing Intelligence at GfK says of Brand Architect, 'We think of it as combining the art and science of brand measurement. The real beauty of the approach is simplicity. We've condensed a wide range of metrics into one single score, so brands can set a clear vision, track their progress and evaluate their performance'.

Web site: www.gfk.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.