TEA-The Equity Analyzer, Rediffusion’s own strategic tool for brand equity analysis, was launched today. The tool was created in-house by Navonil Chatterjee, the agency’s Chief Strategic Officer.
Rediffusion is an independent full-service advertising firm with offices in Mumbai, Delhi, Kolkata, Chennai, and Bangalore. This month, TEA@Rediffusion will be handed out to all workplaces.
Marketers frequently discuss a brand’s equity, but equity can become a hazy term where everyone has an opinion, but there is rarely anything substance to back it up. Even that equity is measured in terms of a certain time frame and within the context of a specific target group.
According to Navonil Chatterjee, the core idea of TEA is that a brand’s equity is determined by its popularity, uniqueness, respect, and personal appropriateness.
Essentially, how well-known or prominent the brand is, how unique or different it is, how well-respected it is, and what personal meaning, connection, utility, or appropriateness it has for the consumer or TG.
According to TEA, popularity is the first step – without it, you aren’t even in the game, unless you’re content to operate as a fringe player.
According to TEA, popularity is the first step – without it, you aren’t even in the game, unless you’re content to operate as a fringe player. Uniqueness is, of course, very desirable for a brand, but it is also the most difficult to acquire in today’s hyper-competitive world, because the days of Rosser Reeves and USP are long gone, given that sustained competitive advantage is nearly impossible to achieve these days.
Respect is something that your brand will enjoy commanding, and it is usually a result of brand longevity (though not always, and other factors such as the business’s ‘do good’ character or CSR activities and ideals can also contribute).
Personal Appropriateness, on the other hand, is likely to become the single most significant driver of a brand’s equity in the future — what are you delivering to the consumer, and what’s in it for the consumer?
The world is shifting to performance marketing, analytics, and measurement, according to Diwan Arun Nanda, Chairman of Rediffusion, speaking on TEA.
The TEA from Rediffusion is a fantastic tool that will help the agency gain a far better strategic understanding of brands and competitors. Marketers will be able to use it to better understand and fine-tune their own marketing efforts.
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