Cultural Levels and Business
February 12, 2025
The word shopping mall brings to mind certain specific kinds of images. For instance, as soon as the word mall is used, people start imagining a huge retail space filled with name brand departmental stores. Consumers have become used to these kinds of malls for the past 50 years. Also, in the initial years, both […]
Personality and personality development are one of the key concepts in HRD. By personality, we mean the traits and characteristics that make up an individual’s psyche and determine how he or she interacts with their environment. Personality is determined by a number of factors including the traits that one is endowed with as a result […]
Successful leaders must have certain exceptional traits which serve as the pillars of the foundation of successful leadership. Effective leaders should have enabling capabilities, must be able to share the common vision, are supposed to be deft in challenging the existing system/processes, should have encouraging qualities and be able to model behaviour. Inspirational Leaders as […]
Veteran American Senator Bernie Sanders, as well as Alexandria Ocasio-Cortez, who has now become the voice of the Democrats, are of the opinion that the United States Postal Services (USPS) should be allowed to perform the functions of a bank. According to them, this solves two important problems. Firstly, there is the problem of financial […]
Socialism is a failed idea. Many nations in the world have now tried socialism. It is no surprise that all of them have failed. After the World War-2, the world was divided into two lobbies. There was the capitalist lobby led by the United States. Then, there was the socialist lobby which was led by […]
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:
Your email address will not be published. Required fields are marked *