Strong brands generate real and sustainable competitive advantage, enabling companies to escape commoditization and reduce risk. Senior executives at Gadget, Inc. knew from their Brand Image and Positioning research that they were a dominant brand among Millennials, but didn't want to overplay their hand as aggressive competitors nipped at their heels. As head of Consumer Insights, Phil was tasked by the CEO to accurately measure the brand equity that Gadget had established, opening the door to revenue growth via higher demand and market share, improved margins via premium prices and minimized cost of entry into new product categories.
Phil knew what to do. Gadget's current brand equity could be determined by the Millennial experts at Ypulse, who could construct an accurate model that showed what elements of Gadget's propositioned garnered the greatest value. Moreover, insight into Gadget's brand differentiation could not only build greater brand loyalty, but enable Phil and his colleagues to determine what line extensions and new products could be launched to increase the brand's allure among Millennials.
It's hard to stay on top if you don't know how you got there. By understanding the factors that drove differentiation, value and loyalty, Gadget was able to ensure that all their words and deeds delivered against their brand's full potential. Moreover, the brand equity model developed by Ypulse identified minor detractors that, once eliminated, inspired Gadget's loyal Millennial customers to move from detached but loyal users to fervent brand ambassadors.
The least you need to know about what's happening in the new Millennial influenced world.
It's not enough to know what. You need to know who and how much. And most of all, why.
Now, what does it all mean for your brand?