A brand establishment is very important in order to make profit in today’s atmosphere of competition. Every brand/marketing manager is trying hard to preserve its brand on the top of mind (TOM) at the consumers’ end. Brand launching is a rather easy task in order to maintain its quality for a longer period of time that is called brand consistency and brand retention after fully satisfied from its offered promises.
There are countless factors which are extremely viable in order to sustain the brand always at the top. Marketing strategies play a pivotal role in for brand rejuvenation and its revival for long term profit gains. Profit always comes from consumers’ pocket, but perception towards the brand is undoubtedly significant. Marketing Research work always provides various methodologies in order to identify the gaps in the perception of different segments. Before that the most important information which is highly crucial for any Brand for its long term survival knows its Heart Beat through Brand Health Tracker.
Brand Health Tracker is a part of longitudinal research which keeps informed Marketing Manager regarding its Health. In marketing Research scenario, it is called “Brand Health Tracker”. The tracker has various factors which are to be essential to extract while conducting door-to-door research methodology. Basically the tracker would provide the best information about the health of Brands. A recent marketing research study was conducted in order to identify the factors which are the most important to get to know the Health of Brand while Tracking it down on a monthly basis. Awareness plays a major role in for tracking the health of the brand and for that following attributes are needed to be identified at initial stage:
- TOM (Top-of-mind)
- Spontaneous Awareness
- Aided/Prompted Awareness
- Ad/TVC Awareness
Afterwards, the use of a brand plays second most important role in tracking its health for a longer period of time. Without knowing the usage of any brand it would be not be viable to get to know whether the brand is having any serious problems or not. Basically, buying behavior drives the profits for a brand. Consequently, following attributes are used to be extracted while research:
- Frequency of use
- Current Use
- Last three months Use
- Last six months Use
- Especially in the past year Use
Now coming towards the main constituent of the tracker study, which is equally important for the brand as oxygen for living organisms in this universe. In order to know loyalty towards a brand following couple of traits are to be extracted in research:
- 1st time Purchase/Trial
- Repurchase & Satisfied
- Loyalty & Advocacy
Aforementioned all steps are being used to track down the Brand Health Tracker for a brand any organization. Similarly, it helps to identify the gaps and the strategies to fulfill that gap with various marketing and communication strategies.