NEWS9 March 2021

GfK launches brand measurement tool

Behavioural science Europe Innovations New business News Trends

GERMANY – Market research business GfK has developed a framework for brand measurement that aims to link consumer attitudes and buying behaviour.

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GfK Brand Architect attempts to replicate how consumers chose brands by observing customers in multiple, realistic brand buying scenarios to understand the factors they consider, purchase intent and willingness to pay a premium for one product over another.

The brand performance is then measured through GfK’s Brand Strength Index. A higher score on the index demonstrates that a brand can attract more customers and charge a higher price premium than lower scores and correlates with the company’s market share.

Gonzalo Garcia Villanueva, global chief marketing officer (CMO) at GfK, said: “CMOs must question whether their products and communications are generating a brand premium and what is the optimal amount they should spend on brand-building.

“Only then will they truly understand the economics of their brand and prove return on investment.”