How do you measure brand equity and brand health?

To begin, brand equity and brand health are related, but two separate ideas. Brand equity refers to the underlying drivers of "what makes a brand tick." Brand health refers to the overall condition of the brand.

There are three levels to measure brand health: consumer level, product level, and firm level. There are many variations at each level. Below are a couple samples of each.

1. Consumer level.

a. Evaluate brand's awareness levels and brand image by studying consumer.(This is measuring brand equity)

b. Brand Mojo score. This looks at the number of lovers vs. haters of a brand.

2. Product level.

a. Price premium. The idea here is that consumers are willing to pay extra for a branded good or service as compared to an unbranded (or private label) good. The higher the premium, the stronger the brand.

b. Revenue Premium measure: The revenue premium method is similar to the price premium approach in that it compares revenue premium (which inherently incorporates pricing) of a branded product to that of an unbranded (or private label) product.

3. Firm level.

a. Interbrand ranking: A brand's value is done on the basis of projected profits discounted to a present value.

b. Replacement level. Brand value is calculated by determining the amount of money required to reproduce the brand.