The paper "Measuring and Interpreting Brand Performance" is a wonderful example of an assignment on marketing. Brand performance means that the value of the brand must bear interest and provide a measurable contribution to the success of the entire business. Many businesses provided they possess brands if their competitive environment and their business results are excellent due to their brand compared to other businesses that have failed to utilize brands. In keeping with Spitzer (2007), the need to measure the performance of an organization at the macro-level has been prevalent in order to assess the performance of an establishment.
It is important to evaluate the performance of its products and this is applied to a micro-level of the performance and this is referred to as sales marketing. Failing to measure brand performance has been a major weakness, widely discussed as a brand is the primary possession of a company. In reality, the brand plays a primary role in the success of any organization through the creation of competitive advantage via the performance of means that are not related to the product. Understanding the difference of the products through their branding has been of great benefit to businesses including consistent volumes and revenue for several years, getting a fair share, and resisting the attacks (Spitzer, 2007).
To understand the effects of programs involved in the brand making it is critical to measure and interpret the brand performance; this is a useful tool for measuring brand value chain. The brand value chain can be defined as a means of tracing the value creation process for brands. This will help to understand the fiscal impact of brand marketing investments and expenditure.
A cost-effective brand management system comprises of successful designing and implementation of a brand equity measurement system comprising of a set of research procedures that are designed to provide accurate, timely and actionable information. This will enable the marketers to make excellent tactical decisions both in the short-run and in the long-run. 1. Analyze Table 1. Describe the differences and patterns that you see between the competing brands, and specifically for Snickers brand. Table 1: Brand Performance Metrics Brand Market share Penetration Average Purchase Frequency Category Buying Rate Share of Category Requirements Sole Loyalty Mars Bar 34 74 2.2 5.8 39 22 Kit Kat 24 52 2.3 6.2 37 7.7 Snickers 20 48 2.0 7.4 27 4.2 Twix 16 46 1.7 7.3 23 0 Nestle Gold 6.5 26 1.2 8.5 14 0 Average 20 49 1.9 7.0 28 6.7 Snicker is an average brand among the brand categories that are listed above.
Its high level of sole loyalty falls indicates that the brand is in the category of repertoire market and that the consumer decides o whether to go for the brand or not. The buying rate of snickers brand is also average and its share of category is also average.