Branding Research

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Why Do I Need Branding Research?

Market research has shown that 5% of a company’s stock value is the direct result of the company’s image. The effect is likely to be much greater as there are many indirect effects of a good image. Companies that possess strong brand image have more loyal customers that:

  • Desire to purchase more of their products,
  • Are willing to spend more for the goods they receive,
  • Are quicker to forgive the company in the case of an odd failure or mistake,
  • Are more apt to recommend the company to their friends and family.

Every company should be seeking out customers with the above characteristics, so it is no wonder that in today’s society, everything is branded-from products to experiences. Some research studies have shown that babies as young as age 18 months recognize brands. And the average three-year-old is familiar with more than 1,500 brands!

Brands play a critical role in purchase decision-making. They become a short-hand for your customers and portray certain attributes and qualities to the marketplace, making it easy for the customer to choose your brand. Brands are the customer-facing expression of your business strategy. Consumer companies have long recognised the importance of branding and branding research yet it is one of the most neglected areas of business-to-business markets. Why do so many managers know so little about their brand?

At Artemis Crane, brand research is highly focused on helping companies make the critical decisions that build and enhance their branding and image. Whether you are just starting to define your brand or whether you have an established brand that you are managing, accurate and timely information is available through brand research.

What is Brand Equity? Why is it Important?

Brand equity is defined as “the differential effect of brand knowledge on customer response.” Brand equity in a more universal sense is the extra dollars you can earn by having customers who are loyal to your brand.  Positive thoughts related to your brand are important as they have been proven to be highly related to true customer satisfaction, loyalty, and retention.

Although there are no specific metrics for measuring brand equity, Artemis Crane has adopted several proven techniques that are utilized to derive clear and precise results for our clients. Click here to view our most widely used measurement techniques.

So, What are some brands worth?

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Brands Are Assets That Must Be Developed

The consultants of Artemis Crane are equipped with the most advanced resources to help you develop and track a quality brand name and image.  Together, we will craft a branding strategy that is not only appealing to the marketplace, but that sends clear messages of quality, dependability, and superiority. Every brand has an optimal realm within which you can work that is deemed appropriate by your industry, your customers, and the marketplace.  An initial test of your brand will provide insight into your brand’s limitations.

The greatest benefit of a strong brand is the ability to leverage the name into new product launches and new markets.  Too many companies utilize their brands to expand into “off products,” meaning products that they are not typically known for. What if Alpo dog food started producing hamburger meet for humans? Or if Avon started producing cars? These are examples of an inappropriate expansions outside of a companies acceptable realm.  Understanding your brand is the first step in knowing how far to take product development.  The market intelligence you gain in branding research will provide a dimension for your brand and allow you to exploit it to its potential. Click here to view the Artemis Crane branding research solutions.

Quick Links:

> Brand Equity Metrics > Branding Research Solutions >Brand Creation Process

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For more information regarding branding research at Artemis Crane, please click below.