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Brand value refers to the influence and competitiveness of the brand in the market and is one of the important assets of the enterprise. Brand value not only reflects the brand's popularity, recognition and reputation, but also affects consumers' purchasing decisions and behaviors, as well as the profitability and market share of enterprises. Therefore, to enhance the brand value is one of the important goals of enterprises.
Market research is a method of collecting, analyzing and interpreting market information that can help companies understand consumer needs, preferences and behaviors, as well as the strengths and weaknesses of competitors. Market research can provide valuable insights and recommendations for businesses to develop and execute effective brand strategy and management. This article discusses the strategies and methods of how to use market research to enhance brand value, including determining brand positioning, establishing brand image, creating brand difference, enhancing brand loyalty and spreading brand reputation. This paper also puts forward some notes and suggestions for market investigation to improve the effectiveness and efficiency of market investigation.
First, determine the brand positioning
Brand positioning refers to the position and role of the brand in the hearts of consumers, and is the core and soul of the brand. Brand positioning determines the brand's target market, target consumers, product characteristics, price strategy, distribution channels and promotion methods. Brand positioning should meet the needs and expectations of consumers, while having obvious differences and advantages with competitors.
Market research can help companies determine the four elements of brand positioning: market segmentation, target market, differentiation and brand proposition. Market segmentation refers to dividing the market into a number of relatively uniform subsets according to certain criteria in order to more effectively meet different consumer needs. The criteria for market segmentation can be geographical, demographic, psychological, behavioral and other characteristics. Market research can help companies identify and evaluate different market segments to determine the most promising and attractive ones. The target market refers to the market segment selected by the enterprise and is the main audience and customers of the brand. Market research can help companies understand the size, growth, structure, trends, needs, preferences, behavior and other characteristics of the target market in order to develop a suitable brand strategy. Differentiation refers to the differences and advantages between the brand and its competitors in the target market, and is the core competitiveness of the brand. Market research can help companies analyze and compare competitors' brand strategies, product characteristics, price levels, distribution channels, promotion methods, etc., in order to identify brand differentiation elements and advantages. Brand proposition refers to the information and promise that the brand conveys to consumers, which is the soul and value of the brand. Market research can help businesses understand consumer needs and expectations to determine brand propositions and slogans.
2. building brand image
Brand image refers to the overall impression and feelings of consumers on the brand, and is a comprehensive reflection of the external performance and internal quality of the brand. Brand image can affect the consumer's cognition, emotion and behavior, thus affecting the value of the brand. Therefore, the establishment of brand image is one of the important ways to enhance brand value.
Market research can help enterprises establish three aspects of brand image: brand identification, brand association and brand personality. Brand recognition refers to the consumer's recognition and memory of the brand, which is the basis and premise of the brand image. The elements of brand identification include brand name, logo, logo, color, font, sound, smell, etc. Market research can help companies test and evaluate different brand identity elements in order to select the most recognizable and attractive brand identity elements. Brand association refers to the consumer's association and imagination of the brand, which is the content and connotation of the brand image. The elements of brand association include product characteristics, quality, function, effect, interest, scene, user, spokesperson, event, emotion, etc. Market research can help companies understand and stimulate consumer brand association to create the most meaningful and valuable brand association elements. Brand personality refers to the personification and emotion of consumers to the brand, which is the characteristic and style of brand image. The elements of brand personality include honesty, reliability, professionalism, innovation, fashion, vitality, friendliness, humor, etc. Market research can help enterprises to shape and express the personality of the brand, in order to establish the most affinity and charm of the brand personality elements.
3. create brand difference
Brand difference refers to the uniqueness and advantages of the brand in the market, and is the core competitiveness and value source of the brand. Brand differences can help brands attract and retain consumers, improve brand awareness, recognition and reputation, and increase brand market share and profit margins. Therefore, creating brand differentiation is one of the key ways to enhance brand value.
Market research can help companies create four levels of brand differentiation:
Product differentiation refers to the differences and advantages between brand products and competitors in terms of function, quality, design and innovation. Product difference is the basis and core of brand difference and the main basis for consumers to choose brands. Market research can help companies understand the product needs and expectations of consumers, as well as the product characteristics and levels of competitors, in order to develop and improve differentiated products.
Service difference refers to the differences and advantages between brand service and competitors in terms of quality, speed, convenience, personality and experience. Service difference is the extension and supplement of brand difference, and it is an important factor of consumer satisfaction and brand loyalty. Market research can help enterprises understand the service needs and expectations of consumers, as well as the service level and evaluation of competitors, in order to provide and improve differentiated services.
Relationship difference refers to the differences and advantages of trust, interaction, care and sharing between brands and consumers. Relationship difference is the deepening and sublimation of brand difference, and it is an important way for consumers and brands to form emotion and value. Market research can help companies understand the relationship needs and expectations of consumers, as well as the relationship level and strategies of competitors to establish and maintain differentiated relationships.
Social differences refer to the differences and advantages of brands in social responsibility, public welfare activities, environmental protection, cultural heritage and so on. Social difference is the expansion and promotion of brand difference, and it is an important motivation for consumers to identify and support the brand. Market research can help companies understand the social needs and expectations of consumers, as well as the social level and behavior of competitors to implement and demonstrate differentiated social actions.
4. enhance brand loyalty
Brand loyalty refers to the tendency and degree of consumers' repeated purchase and recommend of the brand, and is the stable customer and loyal supporter of the brand. Brand loyalty can help brands reduce marketing costs, improve customer lifetime value, increase word-of-mouth communication, and resist competitive pressure. Therefore, enhancing brand loyalty is one of the effective ways to enhance brand value.
Market research can help companies enhance brand loyalty in three stages: brand awareness, brand preference and brand commitment. Brand awareness refers to consumers' awareness and memory of the brand, which is the starting point and foundation of brand loyalty. Market research can help companies understand the brand awareness level and source of consumers to improve brand exposure and recognition. Brand preference refers to the consumer's preference and choice of brand, which is the process and performance of brand loyalty. Market research can help companies understand the consumer's brand preference factors and the extent to enhance the attractiveness and competitiveness of the brand. Brand commitment refers to the trust and support of consumers to the brand, which is the end point and goal of brand loyalty. Market research can help companies understand consumers' brand commitment motivations and ways to enhance brand trust and loyalty.
5. communication brand reputation
Brand reputation refers to the evaluation and prestige of the brand in the public and the media, and is the social capital and influence of the brand. Brand reputation can help the brand to improve awareness, recognition and reputation, increase the brand's authority and credibility, and expand the brand's scope of influence and audience. Therefore, the dissemination of brand reputation is one of the important ways to enhance brand value.
Market research can help companies spread brand reputation through four channels: advertising, public relations, word of mouth and social media. Advertising refers to the information and content that a brand publishes on various media through paid methods, and is the main source and carrier of brand reputation. Market research can help businesses understand consumer advertising exposure and reaction to develop and execute effective advertising strategies and ideas. Public relations refers to the information and content obtained by the brand in various media through non-paid means, which is an important supplement and support for the brand reputation. Market research can help companies understand the attitude and influence of the media in order to establish and maintain a good media relationship and image. Word of mouth refers to the information and content obtained by the brand through the communication and recommend between consumers, which is the effective communication and enhancement of brand reputation. Market research can help companies understand the level and direction of consumer word-of-mouth to motivate and manage consumer word-of-mouth behavior and effects. Social media refers to the information and content that brands obtain through various platforms and applications on the Internet and mobile devices. It is an emerging channel and opportunity for brand reputation. Market research can help businesses understand consumer social media use and engagement to develop and operate interactive and innovative social media strategies and campaigns.
Conclusion
This article discusses the strategies and methods of how to use market research to enhance brand value, including determining brand positioning, establishing brand image, creating brand difference, enhancing brand loyalty and spreading brand reputation. This paper also puts forward some notes and suggestions for market investigation to improve the effectiveness and efficiency of market investigation. Market research is an important tool and means to enhance brand value, which needs to be continuously carried out and improved by enterprises to adapt to the changes of the market and the needs of consumers. Only through market research, can the brand know more about itself, consumers and competitors, so as to formulate and implement more effective brand strategy and management, and enhance the value and competitiveness of the brand.
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