Healthcare Brand Bonding & Brand Equity Services
Brand Bonding: Brand Pyramid & Brand Portrait
Brand Pyramid: Brand Bonding
Brand Bonding correlates with Brand Revenue Potential
Direct understanding of a brand’s loyalty performance against the competition & category, where and how to focus resources for maximized Brand Revenue Potential.
The Healthcare Brand Equity Pyramid enables us to answer all of the following.
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Breaking down the Brand Bonding Journey into its congruent steps allows clear identification of where customers reside in the brand bonding process, why they reach a given step, what issues prevent their conversion to the next step, and Bonding with the brands.
This allows a direct comparative understanding of our brand’s performance vs competitors as well as the ability to target where our problems are, what the problems are, and how to encourage our customers to convert to bonding with our brand, increasing revenue potential.
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Brand Diagnosis – Identify issues and advantages vs the category
Brand Diagnosis
Identify issues and advantages vs the category
The power of the Brand Pyramid lies in the ability to diagnose the attribute performance issues or advantages at each step as well as how each brand compares against the category.
Brand Portrait
Indicator of future performance
Portrait identifies a brand’s strengths and weaknesses relative to the other brands in the category and likely future performance. Are you Fading Star or a Champion Brand?
Understanding the level of conversion at each step of the Brand Pyramid provides a Brand Portrait for all investigated Brands, and therefore a comparative view of the status of each brand in the mind of the target customer.
Tracking Brand Bonding
The Brand Pyramid is specifically designed for tracking brands over time
Tracking Brand Pyramid performance at different time points provides specific visualization on how Brand Bonding & Brand Portrait is changing over time against competitors while Brand Diagnosis evolves which strategic actions at company, product, and sales levels are having the best impact at each step on driving a higher conversion of customer bonding and brand loyalty.
Brand Equity: Brand Power
The strongest brands – ones that have built a connection or predisposition with their consumers to choose their products
The Brand Equity Framework model of consumer decision-making in the context of the competition.
Brand vs Brand Equity
As we know a brand is a set of associations – ideas, memories, and feelings – imprinted in the consumer’s mind.
Brand Equity, however, is the ability of these associations to pre-dispose consumers to:
Holistic brand equity measurement systems must have measures of these
Characteristics of valuable brands:
- Consumers feel bonding for them
- Consumers feels the product performs well to meet their needs
- Seen to be unique
- They maintain their relevance to market needs, set trends
- Their awareness is high
Brand Power’s 3 Dimensions
Factor analysis incorporation neuroscience and psychology research into choice behaviours brings these 5 characteristics into 3 Brand Dimensions
3 Brand Dimensions:
- Purposeful – Extent that brand builds emotional connection & delivers on promised needs
- Differentiated – Winning market share by standing out where others fail
- Recognition – Decisions are strongly linked to mental availability/familiarity of the brand
These 3 qualities are present in all brands that perform well, command high prices and pre-dispose the brand to generate greater volume share now and in the following year ahead
Brand Power – Pre-disposition to Attract Customers
Brand Power – the weighting of the 3 dimensions make the Brand’s Power – The ability of a brand to pre-dispose consumers to choose it over other brands within the category
Furthermore, differential contribution of the 3 dimensions illustrate brand choice pre-disposition and real world financial price support.
Power: A brand’s ability to pre-dispose consumers to choose it over other brands in the category
Premium: A brand’s ability to command a price premium relative to the category average