The paper "Brand Equity and Associated Metrics" is an outstanding example of a marketing literature review. Branding discourse occupies central role in most marketing literature and real-life business situations. In the ever-growing competitive market where there is a consistent proliferation of new brands, brand equity becomes a core phenomenon in outwitting competition. Brand equity and associated metrics are critical in delivering competitive advantage through the formulation of customer-centered strong brands as a result of the premise that it empowers organisations to differentiate their products and establish the impact of brand awareness on consumer response.
In this regard, the purpose of this paper is to assess why marketing management might and might not use brand equity and associated metrics. The article argues that marketing management might use brand equity and associated metrics since they are integral in the formulation of customer-centered strong brands, formulation of the product line and extension strategies, for accounting & merger purposes, critical in the creation of a barrier to entry and so on. On the other perspective, the paper argues that marketing management might not use brand equity and associated metrics owing to the challenges of not being able to convert raw data into insightful information and difficulty associated with choosing the right metrics. 2.0 Measuring Marketing Activity Marketing plays an integral role in ensuring the market leadership of an organisation by informing organisations in customer needs and the best way to address them through various strategies so as to deliver demand-driven value.
Petersen et al. (2009) note that more than ever there has grown a significant need by marketers to justify marketing expenditures to the firm.
Such aspiration is only plausible if a direct nexus between marketing metrics and future customer value and firm performance can be measured (p. 95). Measurement of marketing impact can be established through various metrics such as brand equity and other associated measurements such as market share, perceived product/ service quality, segment/ lifetime value, brand value metrics, customer value metrics, word of mouth and referral value metrics, retention and acquisition metrics, cross-buying and up-buying metrics, multi-channel shopping metrics and product return metrics.
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