As part of the BrandAsset® Valuator (BAV) – VMLY&R's exclusive brand study, which has been conducted globally for more than 25 years – the perception data of 1.5+ million people of more than 56,000 brands in more than 50 countries has been collected. Nearly 1,000 brands were queried in Austria this year. In 2021, more than 3,400 people were interviewed as a representative sample of the Austrian population aged 16 to 69. Austria’s most significant brands are captured as part of the study – in terms of image, awareness, and usage data. The BAV allows for an industry-independent comparison of the data. Differentiation, relevance, esteem and knowledge are used to measure the overall brand strength.In addition, 50 image attributes provide detailed information about the strengths and weaknesses of the individual brands. The BAV also shows what moves Austrian consumers based on a wide range of personal opinion questions. All analyses can also be carried out with a focus on specific demographic and psychographic groups.
HOW ARE SUCCESSFUL BRANDS BUILT?
Thanks to the BAV, we know that brands develop according to a specific pattern, regardless of the product category. First comes differentiation, followed by relevance, then esteem and finally knowledge.
Differentiation is the starting point for all strong brands. It sets the brand apart from all others and thereby creates its right for existence. Differentiation is all about the question: "What makes a brand unique?" The next step is relevance. It measures the importance of a brand in consumers’ lives and whether it is tailored to their personal needs. The best prerequisites for a strong brand are successful efforts in differentiation and relevance. Now people still need to be convinced that the brand is keeping its promise. This results in esteem, the third pillar.
When a brand manages to be relevant, as well as differentiated and valued by consumers, knowledge is the crowning achievement of all efforts. High values on all 4 brand asset pillars are the result of successful brand management.
If we take a look at the relationships between the pillars, we can make predictions about the future growth potential of brands. On the vertical axis, we show the brand strength which represents the brand’s growth potential – its rate of relevance and differentiation. The horizontal axis shows the current brand stature – its level of esteem and knowledge among the population.
The perception of brands begins with the differentiation factor. Afterwards it rises towards relevance, then to esteem and knowledge. Brands located in the upper right area are considered to be the strongest.
Brands that fail to maintain their relevant differentiation can erode and consequently fall into the lower right area. Therefore, the BAV is also a forecasting tool with which future brand developments can be predicted and controlled.
We would be pleased to show you personally what you can learn about your brand by using the BAV.