Brand awareness marketing research
Brand awareness |
Key benefits from researchThe key benefit of using the research results is a clear understanding of which marketing activities affect the strength of your brand. According to our survey, more than half of marketers understand the direct relationship between brand awareness and company financial performance. For leaders of any market, the level of induced fame is always at the level of 50% or higher. |
Opportunities of the methodOne of the KPIs of departments, marketing and advertising departments is brand awareness or, in other words, brand strength. Many companies monitor this indicator on a regular basis (once every six months to a year), because it directly affects the incoming flow of customers and clients. Awareness measurements before and after an advertising campaign are also popular. The company's sales directly depend on brand awareness. This is due to the fact that the majority of consumers are not inclined to purchase unknown brands. This is typical only for the so-called consumer innovators.
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Sample size and timelineThe minimum size of a representative sample for such projects per region is 400 questionnaires. By region we mean any territory for which separate analytics is required (this could be, for example, a city or a country as a whole). In cases where it is necessary to separately consider and compare data from, for example, 2 cities, the minimum sample is 800 questionnaires. The minimum period for such a survey is 1 business day.
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CostThe cost of a project to draw up a portrait of the target audience consists of the cost of collecting a selected number of questionnaires (payment is taken only for fully completed questionnaires) and the cost of analytics (usually no more than 10-15% of the cost of data collection) You can calculate the cost of one questionnaire yourself using our calculator (you will need to enter the number of open and closed questions in the questionnaire, quotas) The cost of such a study is from 2000 £ (the cost is indicated for a minimum sample). |
Sample report |
Description of the approachFrom a marketing research perspective, there are three indicators of brand awareness, each of which is calculated as a percentage of the surveyed audience (representative sample): 1. First-named brand (Top-of-mind) – the consumer names a certain brand first without prompting; Top-of-Mind is the most important in assessing awareness, because... shows which brands are leaders “in the minds and hearts” of consumers. Top-of-Mind reflects the effectiveness of not only marketing, but also the accuracy of pricing and assortment policies, satisfaction with the quality of service and other parameters. It is believed that if this indicator is 40% or higher, it makes no sense to increase advertising budgets. The balance of power in the market will be further influenced only by work with the assortment, quality, and level of service, but not by advertising. Induced fame is a direct indicator of the effectiveness of a brand’s advertising and marketing policy. The company's advertising activities are considered effective and sufficient if this indicator exceeds 70-80%. Questions about brand loyalty and its reasons are often added to questions on brand awareness. It is important to evaluate not only individual indicators of brand awareness and loyalty, but also the relationships between indicators, the relationship between brand awareness and market share. |
Process of researchAwareness assessment is a typical quantitative study using a uniform methodology worldwide, so BCGroup's work on this type of project is structured as follows: 1. An NDA (confidentiality agreement) is signed between BCGroup and the company |
How to start?Just send us a request using any of the forms. A BCGroup specialist will draw up a proposal by the end of the working day. |