There are different approaches to brand evaluation, but we will only talk about those things that indicate its strength, that is, the ability to create added value, attract customers and become a priority product.
Brand health
The strength of a brand directly depends on its financial health, its ability to act as a sales driver and attract new customers. A newly opened enterprise will not always be able to achieve high incomes.
For some time it will return the initial investment and constantly invest in development. germany mobile database Therefore, it is necessary to work correctly with financial reports and make timely forecasts regarding the potential of the organization.
Value and added value
If a brand can create value for the target audience, the product's marginality will grow. Try comparing the retail price of your product with a similar quality non-branded product or private label. Based on this, you can draw a conclusion about what added value your brand creates.
The connection here is as follows: the greater the additional premium per unit of product sold your organization receives compared to manufacturers of no-name products, the better. If you notice that this difference is reduced to a minimum, then it is worth thinking about a relaunch and rebranding.