Finest Brand Equity Research Methods By MarketGenics

Brand Equity
Research

Brand Equity Research Services

Brands are related with a set of emotions that influence the responses and behavior of the consumers towards a product or service. It is necessary for a business to comprehend the commercial value or equity, that is, acquired from consumers’ perceptions of the brand .

MarketGenics makes an effective analysis of brand health or equity as a combined effect of the strength of the brand and the connection of the brand with the target audience. We use both quantitative and qualitative research methodologies to derive at a final outcome of the brand health.

In order to gauge and comprehend a brand’s power and value in the eyes of consumers and the marketplace, brand equity research is an essential part of marketing and commercial strategy. The intangible assets and associations that a brand has accrued over time—such as its reputation, customer perceptions, and overall value—are collectively referred to as brand equity. To make wise judgments regarding their branding, marketing, and product development initiatives, firms need to know the results of this study.

The following are some essential components and techniques of brand equity research:

Brand awareness: Brand awareness is a metric used to assess how well people remember and identify a brand. It encompasses both brand recall (the capacity to recall the brand without prompting) and brand recognition (the familiarity with the brand when asked). Generally speaking, high brand awareness indicates strong brand equity.
Brand associations: Researchers evaluate the characteristics and associations that customers make with a brand. These correlations may have to do with creativity, reliability, quality, and other factors. Strong connections can increase brand equity.
Perceived Quality: The focus of this area of brand equity study is on how customers evaluate the caliber of goods or services offered by a particular company. Increased brand equity is frequently the outcome of higher perceived quality.
Brand Loyalty: Research on brand loyalty looks at how devoted a consumer is to a particular brand. Since loyal consumers are more inclined to stick with a brand, brand equity can be greatly increased.
Emotional Bond: A portion of brand equity studies investigate the bond that exists on an emotional level between customers and a brand. Customer advocacy and retention may increase as a result of this relationship.
Surveys and market research are two popular techniques used to collect information on brand equity. The opinions and feedback of consumers are gathered through focus groups, questionnaires, and surveys.
Competitive Analysis: When conducting brand equity analysis, it’s common to compare a company’s equity to that of its rivals. Comprehending a brand’s competitive landscape is essential to strategic planning.
Financial success: A company’s financial success can be impacted by its brand equity. Scholars could examine the relationship between brand equity and market share, pricing power, and revenue.
Long-Term Value: Companies evaluate the brand’s long-term worth by taking into account the ways in which it supports their overall prosperity and viability.

Why us

Brand health research by our team gives an understanding of the following:

Status of the brand today
What will be its status tomorrow
Effective solutions for taking it there

Our team has expertise and experience to conduct brand equity researches across varied industry categories

Brand equity research is conducted in two cases. Please click on the links to know in details.

Brand Mix Development

Brand Mix Evaluation

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Market Research is the only path that helps connect with customers. It is the potential key that provides solution and helps to cope up with the changing business environment.

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