Measuring brand equity involves both qualitative and quantitative methods. Business leaders can use the following approaches:
- Surveys and Focus Groups: Gather insights on customer perceptions, brand associations, and loyalty. - Brand Valuation Models: Use financial models to estimate the monetary value of the brand. - Market Performance Metrics: Analyze market share, price premiums, and customer retention rates. - Social Media Analytics: Monitor brand mentions, sentiment analysis, and engagement rates on social media platforms.