Do your customers like you? Are more and more people aware of and preferring your brand? A powerful brand is one of your greatest business assets. An unpopular brand is an obstacle to your success. That is why smart businesses regularly conduct brand research to understand brand perception and equity.
Brand research allows you to better understand your target audience to see whether your unique products and services meet their needs. Then, you will be able to see what your competitors offer and how you can stand out from them to take advantage of opportunities in the market place.
Two key research areas include brand equity research and brand perception research, as follows:
Brand Equity Research: In order to find out how strong your brand is, you need to ask customers and your target market the following survey questions:
- How important is this brand to you?
- If the brand is not available, which replacement brand, if any, would you choose?
- How does this brand standup in regard to competitor brands (rank the competitor brands in order of importance to you).
- How often do you seek out and purchase this brand?
- Have you ever recommended this brand to another person?
- Which of the competitor brands have you, if ever, recommended to another person?
Brand Perception Research: As a business you invest money to present your products and services in a particular way to your target market. How do you know if your target market perceives your brand in the same way that you market it? If you think you are presenting your brand as sexy, young and trendy, but the younger market sees it as outdated, then your marketing dollars are wasted. You need to conduct brand perception via a survey to find out the following:
- What word or phrase comes to mind when you see or hear this brand name?
- Why do you choose this particular brand over others? Or, why do you avoid this brand?
- What do you believe this brand offers that is better than its competitors?
- If this brand were a famous person, who would it be?
- What do you believe this brand missing? What would make it more attractive?
- Would you recommend this brand to other people? Why?
- If you recommended it, who would you recommend this brand to?
Any company serious about gaining market share and becoming a dominant player in their industry will conduct brand research to make smarter marketing decisions. Research Optimus offers comprehensive branding research for your company. As a trusted branding agency for many customers around the globe, Research Optimus offers a full range of services designed to provide you will the critical data you need to be more effective in your marketing efforts. We can advise you on the current economic climate for your products and services and tell you how you should position your company and products to capitalize within your market.
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