Business Challenges / Brand Management
"Research is a process where you can spend a lot of money and come up with zero. Isurus guides me quickly through the key decisions, helps me avoid the pitfalls, and makes sure I walk away with high-value implications."
-Vice President of Marketing, Enterprise Content Management System Provider
Brand research is typically conducted when a company:
- Lacks an understanding of its current strengths and weaknesses relative to competitors
- Is developing a new positioning after a merger or acquisition
- Is unclear if its brand equity will help or hurt as it moves into new markets
- Is undergoing a rebranding effort
Brand research typically explores the following dimensions:
- Market requirements and priorities
- Brand awareness and perceptions relative to competitors
- Dimensions such as affinity, consideration, favorability, etc.
Brand research uses qualitative and quantitative approaches depending on the nature of the product and market, and on how the results will be used:
- Qualitative research (e.g., focus groups and in-depth interviews) is used to understand existing brand perceptions and how the market forms its opinions of brands. Qualitative brand research often includes projective techniques, homework, and individual and group exercises to delve beyond cognitive evaluation of the brand.
- Quantitative research is used to map a brand’s competitive position and track that position over time. Metrics like brand recall, usage, and willingness to recommend (e.g., the Net Promoter Score metric) are often used to measure the overall health of a brand.
The typical insights gained from brand research include:
- An accurate understanding of how the market views the brand vis-à-vis competitors
- The implications of mergers and acquisitions on market perceptions
- Measurement of the effectiveness of brand management and change efforts
- Implications of brand perceptions for new product introductions and other brand extensions