Ad
related to: brand awareness key performance indicators definition
Search results
Results From The WOW.Com Content Network
As brands are competing in a highly globalized market, brand awareness is a key indicator of a brand's competitive market performance. [4] Given the importance of brand awareness in consumer purchasing decisions, marketers have developed a number of metrics designed to measure brand awareness and other measures of brand health.
Performance indicators differ from business drivers and aims (or goals). A school might consider the failure rate of its students as a key performance indicator which might help the school understand its position in the educational community, whereas a business might consider the percentage of income from returning customers as a potential KPI.
In another example, the variables brand recognition and brand recall form a linked network that describes the consumer's brand awareness or brand knowledge. [43] Brand awareness refers to the extent to which consumers can identify a brand under various conditions. [44] Marketers typically identify two distinct types of brand awareness; namely ...
Brand awareness is a key component in understanding the effectiveness both of a brand's identity and of its communication methods. [82] Successful brands are those that consistently generate a high level of brand awareness, as this can be the pivotal factor in securing customer transactions. [83] Various forms of brand awareness can be identified.
Consumers build brand value through exposure to the brand and branded information over time. [citation needed] Brand information can be received through many sources, such as, advertising, word-of-mouth and in the (distribution) channel often characterized with the purchase funnel, a McKinsey & Company concept. Lastly, consumers consume and ...
Key performance indicator—a method for choosing important/critical performance measures, usually in an organisational context Performance prism—a second-generation performance measurement framework used by organizations to manage performance by considering the needs and contributions of all stakeholders, not just shareholders and customers.
Brands not taken into account in the "awareness" stage may be added during the evaluation or even purchase stage; Following the post-purchase stage, there is a return to the first step in the process, thus feeding the brand awareness. [55] In relation to customers and the channels which are associated with sales, these are multichannel in ...
The purpose of the BDI metric is to quantify the relative performance of a brand within specified customer groups. The index helps marketers identify strong and weak segments (usually demographic or geographic) for individual brands. [1] The BDI is especially useful in conjunction with the category development index (CDI). It can be used in ...