THE BRIEF
A leading FMCG brand aimed to evaluate its brand health and equity. The goal was to understand how the brand is perceived by consumers, measure its strength in the market, and identify opportunities for enhancing brand equity. The client sought to gain insights that would inform strategic decisions to boost brand loyalty and market positioning.
OUR APPROACH
To address the client’s objectives, we employed a comprehensive brand health and equity study methodology that included both quantitative and qualitative research techniques:
- Quantitative Surveys: We conducted extensive surveys with a large sample of consumers. These surveys were designed to capture data on:
- Brand Awareness: Recognition and recall of the brand among consumers.
- Brand Associations: Attributes and qualities that consumers associate with the brand.
- Brand Loyalty: Levels of consumer loyalty and likelihood to repurchase.
- Brand Preference: Comparison with competing brands and overall preference.
- Net Promoter Score (NPS): Willingness of consumers to recommend the brand to others.
- Qualitative Focus Groups: To complement the quantitative data, we conducted focus group discussions with various consumer segments. These discussions provided deeper insights into:
- Consumer Perceptions: In-depth understanding of how consumers perceive the brand.
- Emotional Connections: The emotional and psychological connections that consumers have with the brand.
- Brand Storytelling: Feedback on the brand’s communication, messaging, and storytelling.
- Brand Equity Measurement: Key components of this analysis included:
- Brand Loyalty: Consumer commitment and attachment to the brand.
- Perceived Quality: Consumer perceptions of the quality and value offered by the brand.
- Brand Associations: Strength and favorability of brand associations.
- Brand Awareness: Overall visibility and recognition of the brand in the market.
- Competitive Analysis: We conducted a comparative analysis of the brand’s performance against key competitors. This involved benchmarking brand health and equity metrics to identify strengths and areas for improvement.
THE OUTPUT
The findings from our brand health and equity study provided valuable insights for the client:
Brand Health Insights:
- Strengths: The brand exhibited high levels of awareness and recognition among consumers. It was associated with positive attributes such as reliability, affordability, and quality. Consumers expressed strong emotional connections and loyalty to the brand.
- Weaknesses: Some consumers perceived the brand’s packaging and design as outdated. There were also concerns about the brand’s limited product range compared to competitors.
Brand Equity Insights:
- Brand Loyalty: The brand enjoyed high loyalty scores, with a significant number of consumers indicating a strong preference for the brand and a willingness to repurchase.
- Perceived Quality: The brand was perceived as offering good quality products at affordable prices, contributing to its strong value proposition.
- Brand Associations: Positive associations included trustworthiness, dependability, and value for money. However, there was an opportunity to enhance associations related to innovation and sustainability.
Opportunities for Improvement:
- Packaging Redesign: Refreshing the brand’s packaging and design to make it more contemporary and appealing to modern consumers.
- Product Innovation: Expanding the product range and introducing innovative offerings to stay competitive and meet evolving consumer needs.
Conclusion: Our brand health and equity study enabled the client to gain a clear understanding of their brand’s strengths, weaknesses, and opportunities. By leveraging the insights gathered, the FMCG brand can implement strategic initiatives to enhance brand equity, improve consumer perceptions, and strengthen market positioning. This case study underscores the importance of continuous brand evaluation and adaptation to maintain a competitive edge in the FMCG industry.