ABOUT TOP BRAND
::: Top Brand Concept :::
Brand is one of the most important assets of a company. From the financial point of view, a brand can worth dozens of times the company's book value. From another point of view, a brand is the interface between the consumers and the company; a description of the product or the service that the company offers.
This fact makes brand management indispensable. And in managing a brand, we certainly cannot ignore measurements and benchmarking. This year, Frontier Consulting Group once again applies the brand strength indicator called the Top Brand Index (TBI).
Top Brand Index is formulated based on 3 variables: Mind Share , Market Share and Commitment Share . The first variable, Mind Share , indicates a brand's strength inside the minds of the consumers of the respective product category. Market share shows a brand's strength in a certain market in terms of consumers' actual buying behavior. The third variable, commitment share , indicates a brand's strength in encouraging consumers to buy that brand in the future.
To determine the value of the three variables, Frontier uses 3 parameters: top of mind awareness (the first brand mentioned by respondents when they hear the product category) , last used (the last brand used/consumed by respondents in 1 re-purchase cycle), and future intention (the brand that the respondents intend to use/consume in the future).
The value of each parameter that a brand in a particular product category possesses is determined by calculating the percentage of frequency of the brand relative to the frequency of all brands.
In turn, the TBI is determined by calculating the weighted average of each parameter.
Diagram Top Brand Model