Brand study
Definition of brand study:
In addition to the products and services they provide, brands have their own personality, ethics, goals, and missions; Brand study helps to create and manage strong and distinctive brands. When should you use it?
⦁ After the merger
⦁ When a new service or product line is launched
⦁ When growth stops
⦁ When facing new powerful competitors
⦁ When the target audience has changed
⦁ When considering a new name or identity
⦁ When the appearance of the brand becomes old
⦁ Methods: Informal or unstructured interviews, focus groups, online surveys, and structured interviews, 4 main methods for conducting a study are brand
Brand Study ways:
- Informal or unstructured interviews)
- Focus groups
- Online surveys
- Structured interviews
Advantages to study brands:
- Identifying the brand position in the market: Brand study provides a comprehensive view of the market. With the help of studying brands, the understanding of a brand and its competitors is provided by customers.
- Brand Positioning: Perhaps the most powerful thing you can do with the brand study is to evaluate and adjust brand positioning. Positioning helps differentiate the brand from competitors and focuses on the brand’s advantages.
- Understanding changes in customer needs: Generally, customer preferences change. Therefore, a better understanding of the needs and preferences of customers helps to respond to the needs of customers in a better way.
- Understanding customers’ buying attitudes and secrets: it helps to provide competitive offers to consumers.
- Marketing Strategy: Branding is a fundamental element of marketing strategy, and studying brands helps marketers develop effective strategies to reach and engage their target audience.
- Consumer Loyalty: Brands that resonate with consumers can build strong brand loyalty, leading to repeat purchases and positive word-of-mouth referrals.
- Innovation and Adaptation: Studying brands can provide insights into how companies innovate and adapt to changing consumer preferences and market trends.
- Communication and Messaging: it helps companies understand how to effectively communicate their brand message and values to their target audience.
