Documente Academic
Documente Profesional
Documente Cultură
DBS 551
BRAND EQUITY MANAGEMENT
BRAND TRACKING STUDIES
BY
PAUL OLOLA OMOLO D65/68454/2013
paulolola@hotmail.com
16TH March, 2015
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Awareness
Preference
Usage
Attitudes
Perceptions
Judgment
adjustments.
Provide information to facilitate marketers day-to-day
decision making.
Provide insight into the effectiveness of marketing
programs implemented by an organization.
Provide insights into the effects of many marketing actions
on brand equity.
Tracking involves usage and application of Quantitative and
Qualitative Methods of Data collection and Analysis by using
tools like Questionnaires and Interviews which may be
administered online through emails or websites, electronically
or physically.
Whom to Track?
Heavy User.
Light User.
Non-consumers.
When to Track?
What to Track
What to Track
Customer Satisfaction
Product performance
Customer Service
Shopping Experience
Future purchase intent
Price as a Barrier
Customer Behavior
Brands Purchased
Purchase Frequency
Purchase Amount
Total Spending
Brand Change Likelihood
Brand Loyalty
Brand Attitudes
Brand Benefits
Functional
Symbolic
Experiential
Strength
Product Attributes
Product features
Product performance/quality
Non-product
Attributes
Price
Brand personality
User Imagery
Feelings/experience
Favorability
Uniqueness
Desirability
Deliverability
Point of differentiation
Shared associations
Performance
Brand imagery
To what extent do you admire and
Brand Matricesctd
BRAND FEELINGS
Does Apple iPhone 5 give you a
feeling of.
Fun
Excitement
Sense of Confidence
Social approval
Self respect
Classy
Stylish
BRAND RESONANCE
Attention
Intention
Current
experiences
Brand Awareness
Top of Mind
In Mind
Ad Awareness
Top of Mind
In Mind
Preference
- Top of Mind
- In Mind
Latest purchase
- Main brand
- Other brands
Advert Awareness
Preference
Brand Awareness
Latest purchase
IPhone i5
Nokia
Sony Experia
Samsung
Black Berry
Wiko
In Mind (IM)
The rest of the
brands mentioned
are included in the
consideration set but
has a lower chance
of being bought in
the end. A brand
that is not included
here virtually does
not exist in the mind
of the consumer.
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Given the comparative nature of brand tracking studies, brand tracking measures
tend to stay the same over time. However, they should be revised from time to
time to assess their reliability and sensibility. They may be stable over time and
thus reflect stability of brand associations, but they can also be unable to capture
important shifts in the market due to changes in socio-demographic trends,
competitive landscape and economic macro-trends.
Finally, each brand tracking study should be customized to capture the brand
associations that contribute the most to brand equity and the marketing activities
that are effective at strengthening it. The goal is to identify key drivers that have
an impact on consumers' brand choice and purchase behavior and develop
marketing tactics that can lead to brand growth and sustainability.
Another issue with brand tracking measures is defining what constitutes the
desirable level of a particular metric. Is a 40% level awareness good enough? It
depends. It is all relative to the product category and the competitive
environment. In low involvement product categories and those with many
competitors, it may be difficult to get very high levels of awareness and strong
brand associations, so the benchmark for what it is a good level for a metric differs
across industries and product categories.
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References
Thank You