Branding is a key part of any marketing plan and serves to support sales and marketing, public relations and image-building efforts. A strong brand is invaluable as the battle for customers intensifies day by day. It's important to spend time investing in researching, defining, and building your brand. Your brand is the source of a promise to your consumer. It's a foundational piece in your marketing communication and one you do not want to be without.
Our brand creation/brand enrichment programs get to the heart of what makes your company successful - building the perception in the marketplace that you are better than anyone else at delivering what your customers want. We use three positioning methodologies - matching, mapping and emotional relationship - to thoroughly understand how your product relates to the competition and the wants and needs of the target audience. An effective branding program provides a ubiquitous, single-minded focus to all internal and external communications, from company culture and product development efforts to customer service and sales and marketing campaigns. A highly differentiated, compelling brand creation and development program is created, combining deep market intelligence, consumer and sales channel interviews, and qualitative testing of potential brand positioning strategies.
Strong brands are still the cornerstone of successful marketing programs. Marketers use branding to differentiate their companies from competitors, which is especially important in an environment where they are "losing control” of the message due to the rise of social media. Given the challenges, it is surprising how few companies take a comprehensive approach to understanding their brand position and reputation.
Brand Benchmarking monitors in near real time what customers are saying about your company and your competitors, obtains early warning of impending threats to your company, and gains actionable insights into customer preferences and buying habits.
To find out how well your brand performs we benchmarks it against competitors using a range of key performance criteria. Our analysis can be used as an action plan to address areas of concern or establish future growth possibilities. Consulting staff will work with a client to follow through on an approach that can be requested at regular intervals for comparative analysis.
Brand perception is constantly being developed and defined in the marketing discipline. From Public Relations to marketing, product quality to customer service, it's affected by every interaction between the target market and the company. That's why it is important that every aspect of the company presents a consistent and compelling image that reinforces the expectations of the customer at every stage through the product cycle.
The study contains in-depth analysis of branding. It gives comparisons of main competing companies on all branding metrics. The outcomes are used for better market positioning. The brand and category benchmarking studies also give thorough information on competitors’ strengths and weaknesses, and the final output can be the SWOT analyses of the whole market.
to buy your brand in preference to others. The service ensures that customer is guided, directed and
delivered by the brand’s benefits/reasons to buy; and it focuses at all points of contact with the consumer.
How your product does appear relative to other products in the marketplace? Correct brand positioning is
critical to achieving a highly differentiated and more valuable product. Channel Strategy will establish your
current position by charting market segments and how they differ from each other, execute SWOT analysis
and customer usage patterns.
If the positioning is deemed to be incorrect or new opportunities are shown to exist elsewhere in the market,
then a recommendations report will consider a translated or evolved brand positioning.
Brand Positioning makes sure that:
- It is unique/distinctive vs. competitors
- It is significant and encouraging to the niche market
- It is appropriate to all major geographic markets and businesses
- The proposition validated with unique, appropriate and original products
- It is sustainable - can it be delivered constantly across all points of contact with the consumer
- It is helpful for organization to achieve its financial goals
- It is able to support and boost up the organization
Each brand faces different issues, which often required customized tracking surveys. Nonetheless, at Relevant Insights, we always recommend our clients to include measurements of awareness, usage, brand attitudes, perceptions, and purchase intent in brand tracking studies.
- Awareness: both recall and recognition measures should be collected. They are different indicators of the strength of the competition among brands in the minds of the consumers. A brand that first comes to mind in certain situations is more likely to be considered than one that is only recognized when it is prompted to the consumer.
- Usage: this can be measured through regency, frequency of usage, and total spending in the brand, and product category. These brand tracking measures, not only tell us about consumer shopping behavior and preferences, but also are indicators of market share and "share of wallet," which is the amount of consumer spending a brand is capturing and has a direct impact on a company's revenues and profits.
- Brand Attitudes and Perceptions: this is usually captured through questions related to brand image and associations that consumers develop as they experience the brand and are exposed to its positioning message through PR, advertising and promotional programs. Many brand associations are often beliefs about product-related attributes and benefits. However, brand associations also include non-product-related and symbolic benefits.
- Whether the metrics reflecting the underlying sources of brand equity or are they not sensitive enough?
- What are the appropriate cutoffs?
- Which are the sources of brand equity?
- Which sources are the value drivers for a brand?
- Which marketing activities are most effective?
We advise in
- Monitoring the health of the brand to allow for proper adjustments
- Providing information to facilitate marketers’ day-to-day decision making
- Providing insights into the effects of many marketing actions on brand equity