Techniques for Assessing Lidl's Brand Value and Consumer Attitude

This report provides an in-depth analysis of Lidl's strategies for measuring and managing its brand value. It examines various techniques, including financial metrics (comparing brand equity to sales), competitive metrics (market share, sales lift), and methods for assessing brand awareness (surveys, website traffic analysis). The report also explores the influence of consumer attitude on brand value, considering personal, psychological, and social elements that shape purchasing behavior. Lidl's approach to influencing purchasing intent through marketing campaigns and customer service is also discussed. The conclusion emphasizes the importance of integrating all aspects of brand value for overall business success.

TASK 4 EVALUATE
TECHNIQUES FOR
MEASURING AND
MANAGING BRAND
VALUE OVER TIME

Table of Contents
INTRODUCTION...........................................................................................................................4
TASK 4............................................................................................................................................4
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
Currently, the competition is very high and for this it is essential that company assess its
brand value from time to time. The current report is based on company Lidl which is a
supermarket chain, headquartered in Germany. The present study will outline various tools and
techniques in order to measure brand value, awareness and consumer attitude.
TASK 4
Brand value- it is defined as the financial amount which the brand is having the worth in market.
It can be stated as the monetary value of the brand within the competitive market. For any
company it is very crucial to manage and continuously measure the brand. For this Lidl has
following techniques- Financial metrics- this is a tool which assist Lidl in managing and evaluating brand
value. Under this method the brand equity is compared against the sales performance of
company (Merz, Zarantonello and Grappi, 2018). this indicator states that is financial
value of Lidl is increasing then the revenue of company must also be increasing in the
same direction. Further this technique is involving financial aspect like local store sales,
price premium over competitors, average transaction value and many other aspects of
financial value of brand. Competitive metrics- this is also a good technique in order to manage and measure the
brand value of the company by Lidl. Currently, the competition within market is very
high and for this it is essential for Lidl to time to time measure the brand value of the
company. for this the most essential thing for Lidl is to compare its performance with
competitors in order to know that where company is lacking. In addition to this
competitive analysis will assist the company in analysing their current position in market.
For comparing performance with competitors the different tools which Lidl can use are
like market share, sales lift, consumer acquisition rate, ROI and many other different
types of techniques (Plumeyer and et.al., 2019).
Brand awareness- it is referred to as the degree to which consumer recognises the product or
service of the company by its name. for any company to be successful it is very important for
them to continuously increase their brand awareness among the consumers. For this Lidl makes
use of following techniques-

 Survey- this is a simple technique which is helpful for Lidl in analysing the fact that how
much consumer are being aware of the products and services of Lidl. Under this method
Lidl conducts a survey including questions relating to the product offered with help of
email, social media and other different communication tools. With help of the answers of
consumer Lidl can assess the fact that up to which level consumer are having knowledge
of their products (How to measure brand awareness? 2021).
 Assessing website traffic- in this technologically advanced working environment, Lidl
also makes use of measuring brand awareness with help of website traffic. Under this
Lidl makes use of Google analytics in order to find out the number of people who have
typed the URL of company and its products. This assist company in assessing the fact
that people are searching more for the product of company and this reflect that there is
high brand awareness among people.
Consumer attitude
Consumer attitude is a strong factor influence brand value under target market. This
factor denotes that how potential or target customer approach the product offer by brand directly
influence the overall brand value of business entity. Consumer attitude comprises with different
factors or elements such as psychological, personal and social elements influence consumer
buying behaviour. All these different aspect demonstrate different areas of consumer attitude.
Brand must be suitable enough for al;l different consumer attitude areas to achieve the best level
of growth possibility in market. For example Lidl Company is capable enough to attarct
motivation, perception, learning, beliefs and attitude of potential customer in market. Personal
elements involve under brand value comprises with factors like age, life cycle, occupation,
economic circumstances, lifestyle, personality and self occupation. Company is offering retail
products which requires feasibility related to all these personal factors or elements (Liu, Zhao
and Liu, 2018). The market research shown that company could also attract customer through
references, family members and based on other elements like roles and status which clearly
reflect about the high brand value of Lidl Company. It can be demonstrated that in context to-
brand value every single element influence the overall brand perception of business entity in
front of potential customer available in market. Company's brand value get easy influenced of all
different elements that prominently influence the overall performance of company in target
market. The key reason behind the overall success of Lidl Company is that it could somehow

convince all different elements like age, social class and many other factor of consumer attitude
along with matching up with needs and demands of target customer in market.
Purchasing intent
Management of Lidl Company followed the practice where company could significantly
influence purchasing intent of customer in market. Under this company has followed the practice
of prioritising customer in market so that it can convince to all areas related to customer intent.
Company has channelised marketing campaigns over social media, digital platforms along with
other traditional marketing platforms to improve the customer perception in market. Company
has also followed practice of easy and convenient customer grievance policy where management
tried to solve all issues of customer on a priority basis (Fan and Meng, 2020). Marketing
activities of business entity could attract the customer interest in buying all different retail
products. In context to retail sector the competition is aggressive which could attract all areas
related to customer intent. Due to different marketing and other practices Lidl Company could
cover all different areas related to purchasing intent so that all growth objectives could have been
meet in target market.
CONCLUSION
Brand value can be demonstrated as all different areas that reflect how customer
approach the particular company. There are different areas contribute in the overall growth and
success of business entity that comprises with brand value, brand awareness, consumer attitude
and purchasing intent. If a business entity wants to achieve all its set objectives related to
business than it has to meet up all different areas of brand value.

REFERENCES
Books and Journals
Fan, Y. and Meng, Y., 2020. How Do Online Reviews Impact Purchasing Decisions?--Mediation
of Perceived Usefulness.
Liu, Y., Zhao, X. and Liu, Y., 2018. Stress and unethical consumer attitudes: The mediating role
of construal level and materialism. Personality and Individual Differences. 135. pp.85-91.
Merz, M. A., Zarantonello, L. and Grappi, S., 2018. How valuable are your customers in the
brand value co-creation process? The development of a Customer Co-Creation Value
(CCCV) scale. Journal of Business Research. 82. pp.79-89.
Plumeyer, A., and et.al., 2019. Measuring brand image: a systematic review, practical guidance,
and future research directions. Review of Managerial Science. 13(2). pp.227-265.
Online
How to measure brand awareness? 2021. [Online]. Available through:
<https://www.brandwatch.com/blog/how-to-measure-brand-awareness/>