05 May Brand Analysis
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It is critical to understand that loyalty and commitment are two different constructs: loyalty is behavioral while commitment is emotional. Commitment is made up of two elements: attachment (among patients) and attraction (among non-patients). A patient can be loyal to your brand, but not committed to it. BRANDengineSM leverages a keen understanding of patient attraction and attachment and generates a single brand equity number to gauge how consumers perceive your brand, and offers key information about acquisition and retention strengths and weaknesses that impact growth potential.
Brand equity is the sum of your Brand Strength + Market Strength + Financial Strength as perceived by your key stakeholder groups. Brand Strength may create interest in your brand but Market Barriers (i.e., lack of Market Strength) can impede growth or keep others out of your market. This is why preference does not always lead to utilization. And, brands cannot create Brand or Market Strength without Financial Strength (both real and perceived).
It is critical to understand that loyalty and commitment are two different constructs: loyalty is behavioral while commitment is emotional. Commitment is comprised of two elements: Attachment (among patients) and Attraction (among non-patients). A patient can be behaviorally loyal to your brand, using it again and again, but not be emotionally committed to it. These patients are vulnerable to attrition unless commitment can be developed or environmental switching barriers exist.
Committed patients are more loyal. But even commitment can be impacted by environmental factors. Someone could be committed to your brand (i.e., uncommitted to another brand), but still choose that other brand based on availability or even affordability. According to Jannie Hofmeyr, author of Commitment-Led Marketing, “From a marketing perspective, loyalty can be bought but commitment cannot.”
First used by Klein & Partners, the BRANDengine is based on understanding consumers’ attraction to a brand they have not used as well as their emotional attachment to a brand they have used. Building off of Klein & Partners original Attachment/Attraction modeling from BRANDsight with hundreds of clients over the past several years, the BRANDengine is a major step forward in understanding a brand’s equity in the minds of consumers.
Original Attachment/Attraction efforts modeled brand strength at the hospital level. BRANDengine models brand equity at the system level; taking into account consumers’ interactions with all brand family members across care settings. What’s more, as the diagram above illustrates, BRANDengine provides not only a single strategic brand equity number, it also provides key information about acquisition and retention strengths and weaknesses for the brand as well as the impact that Market Barriers have on growth potential. No other system provides such a complete picture of your brand’s health.
Copyright 2015 Klein & Partners. Used with permission.