Brand Equity

 

B​‌‍‍‍‌‍‍‌‍‌‌‍‍‍‌‍‌‌‌‍​uilding brand equity is very important for companies. Various metrics are used to monitor a brand’s equity and make sure it is growing over time. In particular, brands can be measured by a Net Promoter Score (NPS) (https://www.netpromoter.com/know/), which evaluates customers’ experiences and their willingness to recommend a company’s products or services to others. The referenced article, Understanding the Causes of Negative Customer Experience by Charles Adriaenssens (https://www.splunk.com/en_us/blog/it/understanding-the-causes-of-negative-customer-experience.html), provides some excellent real-world NPS and executive dashboard examples.​‌‍‍‍‌‍‍‌‍‌‌‍‍‍‌‍‌‌‌‍​Another powerful brand metric is customer lifetime value (CLV). Review the article How to Calculate Customer Lifetime Value (https://blog.hubspot.com/service/how-to-calculate-customer-lifetime-value) to learn more about the metric and how to calculate it. Based on the textbook readings and related resources, discuss what brand equity and identity mean to you, how one of your favorite companies builds brand strategies, and what metrics organizations use to measure the strength of a brand.

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