MSW•ARS Research’s Brand Preference/Choice in Tracking metric has passed through the rigors of the Marketing Metrics Audit Protocol (MMAP), the Marketing Accountability Standards Board’s formal process for determining how a marketing metric relates to the financial performance of the firm.
Brand Preference/Choice has proven to reflect market share with a high degree of accuracy (r = 0.88) across a spectrum of 12 diverse categories and over 120 brands.
ASSESSING AND MONITORING BRAND STRENGTH
Brand Preference/Choice is a behavioral measure of consumers’ choice of a particular brand from an array of competing brands within the same product category. It can be used to:
1. Assess brand strength at a particular point in time.
2. Monitor changes in brand strength over time, independent of market factors such as price, distribution and seasonality.
3. Monitor the strength of competing brands.
This metric is used in the MASB Brand Investment & Valuation (BIV) Project, and is readily available as an integral part of MSW•ARS Research’s Brand Strength Monitor, which was launched earlier this year. MSW•ARS Research is a MASB member.
TEN CHARACTERISTICS OF AN IDEAL METRIC
According to the MMAP process, an ideal marketing metric is: 1) Relevant, 2) Predictive, 3) Objective, 4) Calibrated, 5) Reliable, 6) Sensitive, 7) Simple, 8) Causal, 9) Transparent, and 10) Quality Assured.
Read more at MMAP Metrics Catalogue (Audit results are restricted to MASB MEMBERS ONLY).