The Role of Branding Research: A Foundation for Decision Making
Research indicates that 5% of a company’s value is related to brand equity – the goodwill value associated with a company’s brand(s). Beyond capitalization, there are many effects of a strong brand. Consumers are more willing to purchase (and pay premiums) from companies with a trusted brand, from brands whose personalities mirror the customer’s own self-image, and from brands that are sufficiently differentiated in terms of value proposition. Consumers are also more likely to forgive the service failures of brands with high equity…and that is just the tip of the iceberg.
What is A Brand?
Brand is really just a ”node” in the mind of consumers. Your brand is not your logo, your name, or your marketing collateral; your brand is what consumers perceive and consider when they see your logo, hear your name, or are exposed to your collateral.
OC Marketing Analytics is passionate about building strong brands for our clients. Our process starts with understanding what your brand is and what associations it evokes (from the customer perspective), defining and measuring performance on your aspirational brand position (balancing your goals with competitive opportunities), and finally, setting strategies for positioning and deployment of collateral and messaging.
What Do We Do
Every company has a position. Our brand research services investigate your brand value and how your brand is seen in the eyes of customers and potential customers. We use two techniques. The first examines the value of your brand and determines the role that brand attributes play in shaping the image of your company. The second technique draws out customer decision criteria and maps your competitive position.
Examples of measures common in our custom branding research projects are:
- Competitive Brand Positioning
- Brand Association Testing
- Attitude Toward the Brand
- Brand Trust
- Brand Awareness
- Brand Preference and Choice
- Brand Strength (Differentiation & Relevance)
- Brand Stature (Esteem, & Knowledge)
- Brand Loyalty
- Brand Equity
- Brand Personality
- Brand Character