Page 87 - HBR's 10 Must Reads on Strategic Marketing

The Brand

Report Card

by Kevin Lane Keller

B

BUILDING AND PROPERLY MANAGING BRAND equity has become a
priority for companies of all sizes, in all types of industries, in all
types of markets. After all, from strong brand equity flow customer
loyalty and profits. The rewards of having a strong brand are clear.
The problem is, few managers are able to step back and assess
their brand’s particular strengths and weaknesses objectively. Most
have a good sense of one or two areas in which their brand may excel
or may need help. But if pressed, many (understandably) would find
it difficult even to identify all of the factors they should be consider-
ing. When you’re immersed in the day-to-day management of a
brand, it’s not easy to keep in perspective all the parts that affect the
whole.
In this article, I’ll identify the ten characteristics that the world’s
strongest brands share and construct a brand report card—a system-
atic way for managers to think about how to grade their brand’s
performance for each of those characteristics. The report card can help
you identify areas that need improvement, recognize areas in which
your brand is strong, and learn more about how your particular brand
is configured. Constructing similar report cards for your competitors
can give you a clearer picture of their strengths and weaknesses. One
caveat: Identifying weak spots for your brand doesn’t necessarily
mean identifying areas that need more attention. Decisions that

77