For any business, it is expensive to gain new customers and relatively inexpensive to retain existing ones, especially when the existing customers are satisfied or happy with the brand. Return on Investment or brand ROI is a measure of how much a business can profit from the use of a brand when marketing its services or products. In regards to brand measurements and brand key performance indicators, these can truly brand asset valuator model be grouped into three: brand perception, brand financial worth, and brand operation. The brand measurements can be classified in three groups: Brand perception, Brand performance, and Brand fiscal worth.
Consumer comprehension of the brand is a strong motivation for the customer to contemplate purchasing the brand product. Consumer consciousness is about brand recognition, pertaining to the ability to differentiate your brand from other brands in the competitive market of the customer. Brand strength pertains to just how stable the brand is in the market amidst its competition. Credibility pertains to just how trusted the brand is, also as how effective the procedure for brand advertising is. Relevance pertains to how modern the brand is at the minute, along with how effective it is in exciting emotions in customers.
Brand has a clearly identifiable monetary value expressed in the price tag connected with a specific brand. The brand equity is a fusion of the capitalized value of the consumer's trust in the brand and its future sales volume possible (commercial exploitability of the brand).