Rediffusion has announced the launch of a strategic tool for analyzing brand equity. Navonil Chatterjee, the agency’s chief strategic officer, led the effort to build the tool in-house.
This month, all offices will have access to TEA@Rediffusion
“Marketers often talk about a brand’s equity, but equity at times becomes a nebulous topic where everyone has a view, but beyond that subjective opinion, there is hardly anything substantive to back it. And even that equity is with respect to a certain time frame and in the context of a particular target group. Change the TG or the time-period, and the results, in all likelihood, should change,” said Sandeep Goyal, managing director of Rediffusion.
He added, “Given the fact that it is a bit of a black hole, Rediffusion is proud to launch TEA or The Equity Analyser – our framework for evaluating a brand’s equity at a certain point of time, in the context of a certain TG. In fact, the model allows for comparisons of different brands’ equity within the same category and even across categories.”
Chatterjee added, “The fundamental premise of TEA is that a brand’s equity is a function of the following key parameters of a brand’s popularity, uniqueness, respect and personal appropriateness. Basically, how popular, or well known or salient the brand is, how unique or different it is, how well respected it is and what personal meaning, connection, usefulness or appropriateness it has for the consumer or TG.”
There are other facets of the TEA, such as the mapping of brands across product categories based on customer evaluations of the brand on certain parameters. As a result, marketers will gain a sense of the brand’s overall equity and a ‘soft’ sense of how the brand is performing on various attributes.
Diwan Arun Nanda, chairman of Rediffusion, said, “The world is moving to performance marketing, metrics and measurement. And why should brands be left behind in that journey towards an objective understanding of them vis-à-vis facts, figures and primary data. Rediffusion’s TEA is a great tool which will give the agency a far more robust strategic understanding of brands and their competitors. Marketers too will be able to consult it for their own understanding and fine-tuning of their marketing efforts.”