What is a Brand Development Index?
The Brand Development Index (BDI) is a measure used in brand management to indicate the success of a brand’s performance in the market. It allows businesses to track the progress of their brands, compare them to competition and ultimately make decisions on how to improve. By measuring the BDI, businesses can gain insights into how their brand is perceived, how it’s performing in the market, and what changes should be made to maximize its potential.
How is the BDI Calculated?
The BDI is calculated by taking the current market share of a brand in relation to its competitors, and comparing it to the market share that the brand held in the past. This allows businesses to track their brand’s growth over time. The BDI is typically expressed as a percentage, with 100% being the highest possible score.
What are the Benefits of Measuring the BDI?
By measuring the BDI, businesses can gain valuable insights into the performance of their brands and make informed decisions on how to improve. Here are some of the benefits of tracking the BDI:
- It can provide an objective measure of how well the brand is performing in the market.
- It can be used to compare the brand’s performance to that of competitors.
- It can help identify areas where the brand can be improved.
- It can provide useful data for developing marketing strategies.
Examples of Brands with High BDI Scores
Some of the most successful brands in the world have achieved high scores on the BDI. Here are a few examples:
- Apple – Apple is one of the most successful brands in the world, with a BDI score of 99%.
- Coca-Cola – Coca-Cola is one of the most iconic brands in the world, with a BDI score of 97%.
- Google – Google is one of the most valuable brands in the world, with a BDI score of 95%.
Conclusion
The Brand Development Index is a useful tool for businesses to measure the success of their brands and make decisions on how to improve. By tracking the BDI, businesses can gain insights into their brand’s performance in the market and identify areas where improvements can be made.Sources: