New Breakthrough Model Leverages Brand Equity for Financial Growth
Millward Brown has developed the next generation of brand metrics – Power, Premium and Potential – to provide brand owners with guidance on investment and brand strategy to deliver financial growth. The framework is based on new key learning about how successful brands develop meaning, differentiate themselves and create salience.
Our new model, the Meaningfully Different Framework, will serve as the backbone for all of our solutions and brand advisory services. The first offer using the framework is a significant advancement of our signature BrandDynamics™ solution.
To develop the Meaningfully Different Framework, Millward Brown used new research and analytic techniques to explore brand performance across three unique dimensions:
- Beliefs: extensive multi-country, multi-category evaluation of the Millward Brown brand equity database covering survey-based attitudes on more than 50,000 brands, and a culmination of 40 years of brand equity research
- Brains: new neuroscience research into how ideas and emotions shape consumer predisposition to brands.
- Behavior: ground breaking validation of the new brand equity model direct to sales using behavioral data.
Millward Brown findings revealed that meaningfully different brands capture five times more volume, command a 13% price premium and are four times more likely to grow value share during the next 12 months, compared to brands lacking meaningful difference. In fact, meaningfully different brands are expected to grow value share an average of 6.9% per year.