To measure the health of the brand (and, contrary to popular opinion, the authors argue, it can be measured), to get a 360-degree view of the brand in its market - a wide angle of view of consumers and competitors. What is needed, they say, behind the selection of elements, however, and their measurement, and their relation to business performance. Based on the quantitative survey data was collected in 2007, with consumers in large sectors of the U.S. economy - the food and grocery, wireless services and banking - drawn from the major geographic markets across the country, the authors propose a set of statistically reliable brand elements for companies to measure health and used as a leading indicator of risk and potential sales: brand management, attraction, identity, satisfaction and commitment. They then compared these elements to four income-related expression of customer loyalty: customer operating costs, the risk of loss of sales, earnings momentum, and the likelihood of referrals. As a result, the structure allows marketers and investors "connect the dots" between the key elements of brand health and business performance and to reconcile the previously separate concepts: the brand and operations, short-term and long-term investment and vice versa. In the study, the number of companies with strong consumer brands named, was surprisingly small. Fifteen companies account for fully 50% of mentions, and only three companies - Apple, Coca-Cola and Microsoft - accounting for 25% of mentions. The authors conclude with a set of best practices that are derived from completely health framework, and describe companies that are perceived to have strong brands. "Hide
by Julie Dexter Berg, John M. Matthews, Constance M. O'Hara Source: MIT Sloan Management Review 10 pages. Publication Date: 01 Oct 2007. Prod. #: SMR264-PDF-ENG