27 Aug Brand Health
The brand is very important for the company as it depicts the identity and the image of the company itself. Before the companies can achieve the brand equity level or want to sustain their brand equity, it is crucial for them to consider about the brand health. Brand health is very important to determine the performance of the companies in terms of sales and demand from the consumers. Berg, Matthews, and O’Hare (2007) stated that brand health linked to current and future value with consumers. Besides that, brand health also has a competitive position and it is tangible as well as important in managing brands and business performance on a forward-looking basis.
Brand health is something new in business achievement measurement, and not all the companies alert with this matter. Besides that, brand health level is such an indicator for the companies to measure their brand awareness among the consumers instead of showing the successfulness of the companies itself. According to Heaton (2015), a healthy brand is the hallmark of a company or nonprofit that is prepared to prosper. In reality, nowadays the companies should consider about their brand health to sustain or create the brand equity as both of it has much related.
The brand health is determined by the interaction and the response from the consumers. In brand health, some business practitioners measured it through the Resilience and the responsiveness of the consumers. According to Stutzman (2011), there are four elements of digital influence in brand health that consist of volume, velocity, visibility and the volatility. Nevertheless, the other business practitioners more emphasis on brand audit as a key in determining the brand health. There are few close examinations in brand audit for brand health that encompassing the internal and external stakeholders, competitors, brand positioning, brand identity, brand equities, brand architecture, communication, and budgeting. Based on Dawson (2011), a comprehensive brand audit will often reveal new grow opportunities for brands. It creates new ways to make the brand resonate with a new generation of target customers who will represent the brand’s bigger future.
There is still few study that emphasis on brand health and it seems that the companies still have to do a lot of research and experiment on how to measure the brand health specifically. Brand health is very important to monitor the brand development and to measure the response from the consumers about products thus provide the solution or enhance the quality of the brands production.
- , J., (2015). Brand Health. Retrieved on 5 August 2015 from http://www.tronviggroup.com/brand-health/
- , J., D., Matthew., J., M., and O’Hare, C., M., (2007). Measuring Brand Health to Improve Top-Line Growth, MIT Sloan Management Review, 49 (1), pp.61-68.
- , C., (May 8, 2011). How Healthy Is Your Brand? Retrieved on 5 August 2015 from http://blogs.forrester.com/christopher_stutzman/11-05-18-how_healthy_is_your_brand
- , T., (August 18, 2011). The Brand Audit: Key for Determining Brand Health. Retrieved on 5 August 2015 from http://www.brandingstrategyinsider.com/2011/08/the-brand-audit-key-for-determining-brand-health.html#.VcF1zvOqqkp