It is common consumer behavior to have a strong preference for some brands, and a casual approach to same product of a competitive brand. This brand preference could be for any product or service. This loyalty for a brand grows over several years. In marketing, this preference for a definite brand is explainable and a subject of research. Brand building is an interesting phenomenon with different experts putting in their respective opinions. Of all theories on Brand Pyramid, the one offered by market research organization, Millward Brown in 1990 is the most widely accepted.
The Brand Pyramid – An Idea
Millward Brown through their ‘brand pyramid’ tries to explain how a consumer develops loyalty to a brand. This pyramid is inverted in shape with a narrow base and a spread out summit. Loyalty grows from a minimum level to a maximum scale, increasing revenue generation at every step. Here generation of revenue is in direct proportion to loyalty level. There are five steps in this pyramid with every higher step representing a higher earning and greater brand loyalty. These steps in order from lower to higher are: presence, relevance, performance, advantage and bonding. At the lowest or ‘presence’ stage a consumer is just aware of a brand, while at the highest or ‘bonding’ stage, he or she turns into a loyalist.