Reynolds Wrap Aluminum Foil ranks #1 in OVERALL Brand Equity
I guess all those daytime television ads paid off! Honestly, I’m not sure I could have told you whether Reynolds Wrap was aluminum foil or plastic cling wrap. (Oh wait! That’s Saran Wrap! Doh!)
So, what does it all mean? We’ve got Reynold’s Wrap beating out the likes of Hershey’s Milk Chocolate Candy Bars and WD-40 for overall brand equity. I honestly don’t think it means much of anything until you start comparing your brand equity to your competitor’s brand equity. I mean, when I need to wrap up a couple of left-over hamburgers, will my brain mistakenly instruct me to reach for the Clorox brand bleach instead of the Reynolds brand foil? Only if my brain is damaged beyond repair.
I’ll give Harris a bit of credit because they do go on to compare some apples to other apples in categories like online brands. But, it’s a mystery to me how Barnes and Noble could beat Amazon in the rankings.
Spring 2004 EquiTrend Brand Study released with enhanced measurements ROCHESTER, N.Y. – June 22, 2004 – The Harris Interactive? Brand and Reputation Practice today released the 2004 edition of EquiTrend?, a unique measurement and comparison tool for over 1,000 brands in 35 categories. The new results rank Reynolds Wrap Aluminum Foil as the number one brand in overall brand equity, followed closely by Hershey’s Milk Chocolate Candy Bars, Ziploc Food Bags and Heinz Ketchup. EquiTrend’s normative database extends back to 1989, and provides an exclusive look at the evolution of consumer perceptions of brands. This year, Harris Interactive brand strategists and methodologists enhanced the measurement system to provide brand managers with a more comprehensive diagnostic. The redesigned EquiTrend now serves as a succinct, yet multi-faceted, approach to brand equity benchmarking. Instead of relying on Quality and Salience alone, EquiTrend now has five key measures:
1. Familiarity 2. Quality 3. Purchase Intent 4. Brand Expectations 5. Distinctiveness