What is Customer Relationship ?
In CRM the alphabet ‘R’ means relationship. But there is always an ambiguity to understand the actual meaning of this relationship. This relationship between supplier and customer is not a personal relationship or a one-time transaction relationship; for example buying a refrigerator from a consumer’s outlet would not be called as a relationship. Relationship between […]
Food Retailing: Indian Perspective
Food Retailing in India is witnessing a progressive change with the emergence of the hypermarkets/supermarkets and rapid expansion of organized retail sector in India across various parts of the country. With the world’s second-largest population and rising composition of Middle-Income group, India has emerged as the world’s most attractive retailing destinations especially in the Food […]
Role of the Media in Championing Corporate Social Responsibility (CSR)
The articles till now have focused on how corporations need to embrace CSR (Corporate Social Responsibility) as a business imperative. The emphasis mostly was on how there are business needs to adopt CSR and it is high time the corporations became socially conscious. In this article, we look at the role of the Media in […]
The Internet and the marketing mix
Introduction The marketing mix refers to usage of the four Ps of marketing which are Product, Price, Place and Promotion. All the marketing strategies are developed around the framework of fours Ps. With the advent and progress of service industry elements like People, Process and Physical evidence were added to the traditional marketing mix. E-commerce […]
PESTLE Analysis of the Global Aviation Industry
Introduction When we think of airlines, we usually think of luxury and opulence as well as comfort and convenience. However, beneath the veneer, the airlines worldwide are caught in a cycle of higher operating costs, lower profits, and decreasing margins because of the various factors discussed in this article. Though the passengers might not notice […]
A brand is a perception in its consumers’ minds. A strong brand can command a premium price. This power of a brand is measured using a technique of marketing research – Brand Health Survey.
Figure: Current health status of some popular brands
While checking a brand’s health certain vital aspects are captured such as how aware are people of the brand, how do they perceive the brand, what do they expect from it and from other competitors and whether they intend on buying. Tracking brand equity is an important function of any brand manager or of someone in marketing. Not only does it help in staying a step ahead of competition, but it also quantifies the effectiveness of marketing and advertising campaigns.
Broadly, this technique is used to measure a 360 degree view of a brand. It includes the following aspects:
Following features are covered for a comprehensive brand tracking study:
Consumer awareness is the connection between marketing and sales. Awareness depicts how familiar customers are with the brand. In a brand health survey both recall and recognition are captured.
Recall is a better indicator of the brand’s health as a name that first comes to the customers’ minds is more desirable as compared to a name that is prompted and then recognized. In the former case, customers are also more likely to recommend the brand.
Understanding a brand’s usage helps a company realize its standing in the market. Apart from getting an idea about the consumers’ purchase behaviour and preferences, the study also indicates the brand’s market share. While measuring brand usage, frequency of usage, recency of purchase and total spending on the brand are quantified.
This part of the study simply checks whether the brand is coherent with the customers’ expectations and how well their needs are fulfilled. Every brand strives to maintain a positive impression about itself in the minds of the customers.
Measuring brand attributes checks time and again whether this is true and if not, what is the pitfalls customers associate with the brand. In a nutshell, customer satisfaction is the primary attribute to be checked which is comprised of several sub attributes as described under:
Measuring the likelihood of purchase is an important part of the brand health survey. Respondents should be probed on their reason for purchase, channel and time so that a near accurate prediction of the actual purchase decision can be made.
Depending on the industry and the organization, this study can be conducted at an interval of 3-6 months or on an annual basis. Generally it is required most frequently in the FMCG sector due to the fast faced atmosphere of that industry.
For the services industry, a much lesser frequency is sufficient. PwC implements this study once every two years to understand its position amongst the Big Four consulting companies.
It is beneficial to conduct brand health survey in the following changing circumstances:
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