The BrandPower ranking shows how you compare to the most powerful brands, and against leaders in your sector. Through a single measure of brand health that includes familiarity and favorability metrics, you have the ability to monitor your brand and how investments affect its performance over time.
Based on BrandPower data, our CoreBrand® Index by Sector allows you to track which brands are gaining or losing momentum, and so much more. You can also perform custom benchmarking against direct competitors, partners and “mindshare” companies vying for your audience’s attention. This gives you the most relevant insight on your brand performance.
How BrandPower works
To keep your finger on the pulse of your brand health and performance, our analysis measures two key metrics: familiarity and favorability. We collect responses from “opinion elites” – more than 10,000 highly influential stakeholders – on an ongoing basis. This market research data creates an objective, quantified view of your brand health in a single aggregate measure: BrandPower.
The BrandPower 1000 Database includes 25 years of market research, which is constantly updated. This creates the most reliable set of benchmarking data available to predict your future brand performance.
BrandPower Metrics: benchmarking on familiarity and favorability
BrandPower pinpoints your advantages and weaknesses relative to competitors. The example chart above shows that Coca-Cola is in a good position – strong across both BrandPower dimensions. Amex is well known but should work to improve favorability, while Pepsico can benefit from increasing familiarity.
How BrandPower supports decisions
BrandPower research delivers on-demand market intelligence and actionable insights for your industry. To tap unexploited opportunities, it tracks changes in your brand’s favorability and familiarity versus peers, and helps you decide:
- When does your brand have momentum and opportunity for growth? When is the brand at risk?
- Which competitors’ brands are in decay, presenting perfect targets for a challenge?
- What brands in your sector are gaining or losing momentum?
- How are disruptive forces affecting industry leaders in your sector?
- What separates brand leaders from followers in your sector?
- Are you demonstrating brand leadership? Is your brand able to increase familiarity and favorability at the same time? Are you confronted with the “Familiarity Dilemma,” – an increase in familiarity that costs you favorability, common among industry followers?
BrandPower methodology: audience and brand health metrics
Our opinion elite audience is composed of business decision makers and well-educated, affluent consumers who make brand-based decisions every day as part of their business and personal lives. Our brand health metrics include:
- Familiarity – we ask survey respondents how familiar they are with a brand. Their answers reflect their awareness beyond just the company name.
- Favorability – we ask those whose familiarity with brands goes beyond name recognition to rate brands based on three factors: overall reputation, perception of management and investment potential.
CoreBrand can also conduct proprietary BrandPower research among custom audiences defined by the client. Our team carries out global research, measuring your most relevant audiences, metrics, attributes and customer experience. As a result, you can determine what drives value and impacts your brand’s health.