What is Branding Research?
Branding Research answers "How do people
perceive your product, service, company or personality?"
The Benefits of Branding
Customers like brands because they offer identification
and affect buying decisions. The purchasing process is faster
and and purchasing risks are lowered.
Customers get additional functional and emotional value from
branding attributes for which they are willing to pay a price
premium.
Companies profit from brands
through:
-
the revenue generated by
added value
-
increased awareness and faster adoption
rates
-
cost savings gained from loyal
customers
-
lower advertising and product launch
costs
Marcom to the customer is easier because the
message is supported by the implicit message of the brand.
Sales people have no problem selling their branded products to
end-users or winning good distribution channels.
Overall, branding information helps companies
to:
-
optimize cost of
sales
-
uncover potential
threats and opportunities to brand image
-
uncover discrepancies
between the desired and the actually perceived image
-
maximize the
acquisition of new customers and market penetration
-
minimize the loss of
current customers, hence an increase in customer base
-
safeguard and
increase the revenue stream
-
improve marketing and
sales planning
Research Methodology
Branding Research can be performed for
products, services, brands, or people. Branding Research first determines attributes
and benefits for a product in a specific target market. This
information is obtained through qualitative research such as
primary interviews or ethnographic research. The perception of each of these attributes is
then tested quantitatively.
Research Options
Branding Research is most efficient when
combined with Mindshare Research. Together they uncover and
track strength,
opportunities and threats to a brand.
Get Your Questions Answered
If you have any questions about branding, give us a call or
send us an email.
We will be happy to answer your questions.
Other Market Research from Steiner
Marketing
|
