Analyzing Brand Performance
- Pages: 2
- Word count: 419
- Category: Brand
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A chips brand has recently been launched, but its performance has not been too good. The large promotional investments put in have not yielded lasting returns. You are told to investigate what’s wrong with the brand. 1.What data would you request to complete your investigation in this case? 2.Can you talk about your analysis roadmap in this scenario? What possible corrective actions would you suggest (you are free to make relevant assumptions on the diagnosis)? ANALYSIS
1. Brand performance is an indicator of a Brand’s market performance and the brands financial impact on the business. Factors affecting the performance of a brand:
Sl.no| Performance factors|
4| Future viability|
A gap analysis measuring each of the above brand performance factors against customer needs will suggest areas where the brand failed to deliver Perceived brand performance
Perceived brand performance
Expected brand performance
Expected brand performance
Brand performance factors| Consumer behaviours| Corrective actions| Perception| How does the consumer interpret the brand?| Optimise marketing and communication effectiveness so that brand perception matches brand image| Engagement| How does the consumer connect to the brand?| Improve customer touch points and engagement with the brand| Conversion| Does every brand interaction generate sale?| Increase conversion ratio of prospects into customers| Future viability| is it a one-time purchase or repeat purchase?| Ensure that the brand is sustainable in the future. Increase brand loyalty|
2. ANALYSIS ROADMAP
Differentiation is the key to any brand success. Therefore the main question while analysing the current scenario would be: * Is this brand different from competing brands?
• is this brand basically the same as competing brands?
1. What is the total market size of chips as a product?
* What is the market share of our brand?
* Where do we stand compared with main players?
2. What is the number of brand buyers?
* brand consciousness for our brand vis-à-vis competition
3. What is the purchase pattern of my brand and competition?
* One-time purchase?
* Repeat purchase?
* Brand loyalty
4. What are the favourable buying behaviours that influence performance of my brand?
* Change in buyer behaviour with time
5. Analysis of brand equity?
* brand awareness
* perceived quality,
* brand associations
* brand loyalty
Analysis of the above data in a continuous fashion will help track market developments. It will provide the brand’s position in context of changing consumer behaviour. Simultaneous tracking of competitor brands performance will help gauge our brands health in competition
http://anzmac.info/conference/2000/CDsite/papers/s/Sharp5.PDF http://www.gfkcs.com/consumer-diagnostic/key-performance-indicators.html http://ebiz.bm.nsysu.edu.tw/2011/vanessa/%E6%96%87%E7%8D%BB%E8%B3%87%E6%96%99-Brand%20Equity…/Measuring%20Brand%20Equity%20Across%20Products%20and%20Markets.pdf