Brand Health Survey
A brand is a perception in its consumers minds. A strong brand can command a premium price. This power of a brand is measured using a technique of marketing research Brand Health Survey.
Figure: Current health status of some popular brands
While checking a brands health certain vital aspects are captured such as how aware are people of the brand, how do they perceive the brand, what do they expect from it and from other competitors and whether they intend on buying. Tracking brand equity is an important function of any brand manager or of someone in marketing. Not only does it help in staying a step ahead of competition, but it also quantifies the effectiveness of marketing and advertising campaigns.
Objectives of Brand Health Survey
Broadly, this technique is used to measure a 360 degree view of a brand. It includes the following aspects:
Areas to be covered in Brand Health survey
Following features are covered for a comprehensive brand tracking study:
When to conduct a Brand health Survey
Depending on the industry and the organization, this study can be conducted at an interval of 3-6 months or on an annual basis. Generally it is required most frequently in the FMCG sector due to the fast faced atmosphere of that industry. For the services industry, a much lesser frequency is sufficient. PwC implements this study once every two years to understand its position amongst the Big Four consulting companies.
It is beneficial to conduct brand health survey in the following changing circumstances:
- Statistical Tools and their Usage - Factor Analysis
- Sources of Data
- What is Big Data ?
- Big Data and the Power to Predict
- Attitude Measurement Scales
Authorship/Referencing - About the Author(s)
The article is Written By Prachi Juneja and Reviewed By Management Study Guide Content Team. MSG Content Team comprises experienced Faculty Member, Professionals and Subject Matter Experts. We are a ISO 2001:2015 Certified Education Provider. To Know more, click on About Us. The use of this material is free for learning and education purpose. Please reference authorship of content used, including link(s) to ManagementStudyGuide.com and the content page url.