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The First Step in Designing a Tracking Study

The first step in designing a tracking study is to identify what your goal is and what you want to do with it.

Do you need a Brand Equity, Brand Health or Advertising Tracker?  Or some combination?

So let’s first define each…

Some researchers lump Brand Equity and Brand Health into the same bucket but they’re actually different.  Here’s how…

Brand Equity:

Brand Equity is a measure of the value of a brand.  That value is built on everything the brand goes to market with; name, logo, image, advertising, packaging, service, quality, price, performance, availability, etc.  In very practical terms, it is why a consumer will choose one brand over another, and why in some instances, even pay a price premium for that brand.

MSW’s CC Brand Preference™ measure is a proven, independently validated measure of brand value.

Brand Health:

Brand Health is how the brand got here and where can it go in the future.  Brand Health can be made up of many measures depending on the objectives; awareness, consideration, perceptions, our Brand Franchise Analysis (a segmentation technique that looks at Loyalty, Repertoire usage, Lapsed, Rejectors, Attracted, Indifferent, and Hostile), our RDE Analysis (which looks at Relevance, Differentiation and Emotion), etc.  Examining trends is also an important part of Brand Health.  All of this is what informs and creates the actionability of a well designed tracker.

And there’s also Advertising Tracking to consider:

Advertising Tracking measures the performance of a brand’s communications.  How well is it working to move consumers to consider, use, or use more of your brand.  And how to optimize messaging, media, and weight.

With these definitions in mind, the first step is to align this with your goals.

We can help.  At MSW we provide insights derived from proven, brand growth oriented KPI’s; innovative tracking analytics that empower you to grow your brand by demonstrating how to:

  1. Retain current customers,

  2. Acquire new customers, and

  3. Improve the return on your marketing investment.

Contact us to learn more.

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