Branding in the nth Dimension: Measuring Brand Equity in a Digital World
This paper looks at various traditional metrics that market researchers use to measure brand equity. It briefly reviews the various strengths and weaknesses of each approach, before making a case for multi-dimensional inputs as the best approach.
The paper touches on network theory and systems theory as means to describe the multi-dimensional concepts we refer to when talking about ‘brand equity'. Finally, the paper looks at the new tools emerging online that are designed to measure what people are saying about brands and brand influence, and their applicability to brand equity measurement.
What is clear is that a paradigm shift is occurring: what people consider a brand to be and what they expect from brands is changing. In light of this, it is necessary for market researchers to also change how they think about brands and brand equity. Networks and non-linear science concepts will help us to make this transition.