A key part of DOVE's success and where it differentiated itself from other personal care brands, increasing its brand equity, is the use of a different marketing approach when introducing the campaign for real beauty in 2004. This campaign gave women a feeling of identification and association with the brand and the products without even having tried them. Women could identify with the images they were seeing in the DOVE advertising campaigns which resulted in them being willing to pay the higher price for the DOVE brand that made them feel good. Evidently DOVE identified this as being key to the brands value and has continued this approach with the self-esteem program and the latest ad-makeover campaigns.
Measuring brand equity both from a consumer and organization point of view has proven to be a challenge. There are a large variety of theories and formulas that can be used to measure brand equity from the two directions, offering either quantitative or qualitative studies.
Organization brand equity
From Unilever’s point of view, whereby DOVE is one of its largest brands, we would suggest using the financial accounts of the company as a basis for brand equity evaluation. Overall sales and how the sales breakdown by product, combined with a more in depth valuation using the income approach(present value of future earnings similar to the DCF model) will allow Unilever to attribute a tangible dollar value for the DOVE brand.
Consumer brand equity
For DOVE consumers, the brand loyalty that it has acquired over the years is what distinguishes it from other brands. As such the most important information for DOVE would be to understand and measure the brand equity from a consumer point of view, after all they are the people buying the products. It could also be highly beneficial to know (approximately) where the limit is in the price premium people are willing to pay for the DOVE brand. For this we would suggest using the...