Brand Health/ Equity / Key Performance Indicators
Using ex-factory dispatches, sales, number of
contracts initiated etc., are all sound measures of performance; but often fail
to answer the causes of the changes. Frequent surveys measuring key business
indicators can be used to identify, and understand, the underlying causes of
change. These measures could be the key Brand equity drivers identified in
earlier surveys, consumer attitudes, or brand or corporate image.
It's not unusual to collect responses from 30-40 attitudes statements at an
earlier stage of a research project; using data reduction methods we can reduce
the longer list to a shorter one that identifies key drivers only. This reduces
cost and respondent fatigue.
One of our typical outputs from a Tracking
survey is a Quadrant analysis, plotting for each attribute "overall
perceived performance" against "importance" of that particular
attribute as determined by the respondents.
The benefit of this visual approach is to identify quickly and clearly key
market drivers so that company resources can be efficiently utilized.