Getting Ahead—Brand Strength Analysis
A strong reputation, quality products and responsive service strengthens a brand and positions a company ahead of the competition. Using BioInformatics’ Brand Strength Analysis, the Pyramid and Brand Strength Models provide research-based solutions for brand comparisons. These tools enable life science suppliers to gain insight into how customers perceive a brand, and how the brand compares to those of other industry leaders.
Case Study: Where does my brand stand in its development and in comparison with competitors?
Our client was performing major brand development to increase customer affinity for their brand. They sought a benchmark upon which to build their brand relationship to customers. BioInformatics utilized its suite of customizable brand health tools to set the bar and help our client understand the precise areas that needed to be improved. Results from the Brand Pyramid and Brand Strength models provided a critical roadmap for the subsequent client initiatives to strengthen their market position.
Understanding the Pyramid and Strength Models Used in Brand Strength Analysis
The Pyramid Model (below) relies upon brand building, which can be thought of as a series of sequential stages that are contingent upon successfully completing the previous stage. Each stage is based upon measurements of:
- Presence— Do respondents know about the product?
- Relevance— Does the product offer something respondents care about?
- Performance/Satisfaction— Does the product live up to respondents' expectations?
- Advantage/Loyalty— Does the product convey something better than other products?
- Bonding— How attached are respondents to the product?
Included in each tier of the pyramid are the brands that scored the highest for each of the 5 stages mentioned above. The brand with the lowest performance at each stage does not advance to the next level of the pyramid. Brands at the top of the pyramid are those that have the strongest relationships with their customers, i.e., customers are the most bonded to their brand.
The Brand Strength Model (below) complements the Pyramid Model by evaluating the relative strength, beyond rank, at each of the same 5 stages. Using this analysis, you can determine which ways brands have successfully bonded with customers and which ways you can improve your bond relative to your competitors.
With these analyses, you can develop a marketing strategy composed of the optimal product offerings, price, distribution, advertising, and sales promotion, resulting in upward mobility in the Pyramid Model and Brand Strength Model for generating an increasingly loyal customer base.