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Another advertising industry first, The Brand Cross-Cultural Index (BCCI), Powered by BrandZ™ is an innovation brought to market by Ogilvy & Mather and Millward. The first equity assessment tool of its kind, powered by the world’s largest brand equity database, it assesses and ranks brands based on their appeal to non-Hispanic White, Hispanic, Black and Asian consumers.
Leveraging the BrandZ™ database and using Millward Brown’s Meaningfully Different brand equity framework, the BCCI provides two core solutions: a BCCI ranking that identifies brands best at nurturing a meaningful connection with consumers across segments; and Brand Power, a predictive model of a brand’s volume share based purely on perception, absent of activation factors.
Using an expanded ethnic sample, the tool assessed 58 brands in three industries: Quick Service Restaurants, or QSR, ($120 billion total value), Retail Banking ($165 billion), and Beer ($92 billion), with plans for additional categories in 2014.
We developed a simple hypothesis: A brand that appeals to consumers across ethnic segments increases its brand “Power”, or consumers’ predisposition to choose that brand over another. The Brand Cross-Cultural Index (BCCI) provides two main solutions:
- A BCCI Ranking that identifies brands doing the best job at nurturing a meaningful connection with consumers across all racial or ethnic segments of the population, including Whites. The analysis also determines a brand’s Multicultural Opportunity(MCO), which helps identify segments driving the BCCI up or down – multicultural or White consumers.
- Brand Power, a cross-cultural equity analysis that allows brand owners to pinpoint growth opportunities and understand the revenue potential of dialing up various marketing levers within and/or across groups.
- A syndicated tool that looks at different industries, the BCCI serves as a valuable benchmark instrument for marketers seeking to grow their brands in today’s diverse and evolving marketplace.
80% of the growth within the US population over the next five years will come from ethnic consumers. After reviewing the Brand Cross-Cultural Index you should understand the following about this important market segment:
- Brand value and ranking for three major industry categories and why brand and marketing leaders need to understand how ethnic consumers impact their brand and share value.
- It is no longer acceptable to frame your business as General Market or Multi-cultural, Total Market is the third emerging business vertical.
- The cross-cultural discipline works both ways in delivering brand value across segments as well as deep connections with nuances within the New Marketplace.