Busola is a Data Analyst, Market Researcher and Consumer Behaviour…
“Brand Research specifically assists in the creation and curation of strong, distinct brands.” Jane Hale
And when you have strong, distinct brands, your product or service becomes recognizable, trustworthy, valuable and builds relationships with your customers. Testing your brand (Brand Research) enables you to create a solid Brand Strategy as well as understand your target market’s pain points, satisfaction, needs and wants.
Brand Research can be used at every stage in a business’s lifecycle, from creation to new product launches and re-branding. Type Form
By conducting on-going Brand Research and implementing the findings into your Brand Strategy you can ensure your Brand is continually building market share as well as mind share.
These are the different types of Brand Research done
1) Brand Awareness: During your Brand Awareness research, you are checking to see among your target market how many people know of your brand. You might never know how many people out of your entire target market know of your brand but with Brand Awareness research you will know how many people know your brand in comparison to other brands in the category.
2) Brand Penetration: After knowing your brand, there must be a need and desire in your target market to use your brand. Brand Penetration research checks to see among those who know your brand, how many people use your brand especially in comparison to other brands in the category.
3) Brand Perception: Once your target market knows your brand and has had a chance to use your brand, a perception about your brand is formed. As such Brand Perception research gathers insights about how your brand is seen by the target market and again can be done in comparison to other brands.
4) Brand Positioning: Brand Positioning research evaluates your brand solely in comparison to other brands in your category. It is the ranking of brands in your category by your target market. This target market does not necessarily have to have used your brand but they can rank your brand based on everything they have seen or heard about your brand. Brand Positioning research helps us identify which brands have the highest mind share.
5) Brand Value: Brand Value research can be seen as pricing research. It helps you understand what value is placed on the different brands in the category by your target market and how much they would be willing to pay for your brand experience.
6) Brand Loyalty: One of the main goals of your brand should be to ensure your target market keeps buying from you; they are loyal to you. Brand Loyalty research helps you understand if your customers are satisfied with your brand and if your customers will always choose you even though other competitor brands are available at the same price.
7) Brand Advocacy: A loyal customer is more likely to tell other people about your brand and increase your earned media (word of mouth advertisement). Brand Advocacy research helps you understand how likely your customers are to recommend your brand to other people.
Testing your brand (Brand Research) enables you to create a solid Brand Strategy as well as monitor and measure the progress of this strategy which in turn reduces budget and time-related risks.
How exactly does an MSME conduct Brand Research? Stay Tuned!
1. Hales, Jane (2019). What is Brand Research. Sapio Research. Retrieved on March 29th 2020 from https://sapioresearch.com/tuto…
2. Type Form (n.d.). The 8 Types Of Market Research—And How To Use Them. Type Form. Retrieved on March 29th 2020 from https://www.typeform.com/surve…