Improve your Brand Equity: Risk

Consumers, lost in today's complex and volatile markets, use brands to help them simplify their choices. Which is good news if your brand automatically finds its way into consumers' consideration set. If it doesn't, you may have a hard time selling consumers the best conceived and most painstakingly engineered products. They may be excluded without the examination they deserve, simply because of your brand position.

'Information asymmetry' - the imbalance between what you know about your products, and those of your competitors, and what your target consumers know - causes uncertainty in consumers' minds, and uncertainty affects their behavior in two ways:

1. It increases the risks involved in buying brands and follow-on consumption experiences.
2. It makes them invest more time and effort in making choices. They incur 'information costs', resulting in more information search and cognitive effort.

This 'brand knowledge' has multiple dimensions, and the imbalances (or gaps) in consumers' knowledge may be unevenly distributed across these many dimensions.

Knowing how each gap impacts consumer behavior can help you plan a cost effective and profit enhancing brand management plan.

At Advanis, we focus on delivering a measurement package that quantitatively links marketing investment activities and brand performance perceptions to consumer activity - providing a unique purview of Marketing ROI.