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Many companies have realized that proactively measuring buyers' perceptions can provide a strong leading indicator of future marketplace behavior. By understanding the market's perceptions of your brand and image, and perceptions of other brands and companies in the market, competitive forces can be better understood - and leveraged. Frequently, brand and image research are centered on a hierarchy of effects model. Various hierarchy of effects models have been developed for different industry categories, but in general each one shows a potential buyer becoming aware of a product or service, gaining interest, considering a purchase, making the purchase, and then evaluating whether or not to purchase again. In many business categories, a very clear and consistent relationship exists between brand awareness, consideration, and purchase (and therefore market share). However, all brands and companies are not equal and some are more successful at converting consideration into purchase. At MarketVision, we assist clients measure the strength of their brands versus competitors using multivariate analysis techniques. The right approach depends on the client's objectives.
For more information on MarketVision's capabilities in Brand & Image Research, please email:
info@mv-research.com
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