The paper “ Measuring and Interpreting Brand Performance, Awareness, and Salience, Demographics and Segmentation" is a thoughtful variant of assignment on marketing. This report has focused on measuring and interpreting brand performance. In particular, the report has focused on various brand elements as brand performance, awareness and salience and demographics, and segmentation. It is true from the analysis that Mars Bar is the market leader in the industry going by its share of market, penetration, category requirement and customer loyalty. Compared to its competitors, Mars Bar has high-performance metrics. The brand is operating in a repertoire market.
The difference between a subscription and repertoire market is that unlike in a repertoire market, in a subscription market each brand commands a high proportion of market share and that the brand's customers rarely buy from other brands in the market. Since Mars Bar is operating in a repertoire market, its loyal customers are not many. In reality, heavy buyers are usually very loyal to the brand. Focusing on heavy buyers means that the company will incur more expenses in a bid to attract new customers as compared to retaining loyal customers.
In terms of awareness and salience, it is true that compared to other brands, Mars Bars has the greatest ‘ top of mind awareness’ . This implies that when the buyers plan to make a purchase, Mars Bars is their first choice. In terms of demographics and segmentation, the customer profile of Mars Bar is quite different from that of its competitors which is indicated by the demographic-relationship status. From the table of demographic – total household income, it is conspicuous that the affluent class earning between over $70k prefer the brand and purchase it on a regular basis.
Looking at the gender segment we see deviation this time round being tilted towards the female customers. The implication for the Mars Bar strategy is that it should employ a marketing mix that puts in place both male and females, high-income earners and low earners as well as singles and the divorced. Brand PerformanceBrand performance shows how successful a specific brand has been in the market and is used to evaluate the strategic successes of the brand as compared with other competing brands (Chirani et al.
2010). Brand performance can be divided into two main parts, brand profitability and brand market performance (Chirani et al. 2010). Market share is an important index in measuring the success of a specific brand and its performance. It is evident that Mars Bar is the market leader in the industry going by its share of market, penetration, category requirement and customer loyalty. All the same the brand’ s category buying is the lowest. From the table category buying of Nestle Gold is more than that of Mars Bar.
This pattern proves that the category buying rate is of no impact in determining the level of market share, category requirement or penetration. Category buying of Nestle Gold is more than that of Mars Bar although it's market share, penetration and mean purchase frequency is actually lower than that of Mars Bar and even than the market average. This means that category buying has no noticeable impact on brand performance metrics.