Topic: Marketing and Advertising
What is Brand Tracking?
Brand tracking is a technique that is used quite frequently by market research groups to track the performance of a company or organization. Brand tracking ( KeltonGlobal.Com/Brand-tracking ) is used to determine a successful brand strategy for any given company, including: what does the company in question stand for, what unique value is offered by such a company, the impact of marketing activities, and whether raising awareness or conversing about consideration to purchase are the main challenges facing this company. A good brand tracking strategy will go deeper than the data and reveal the “why” behind the current trends. By determining the impact that factors such as marketing, typical consumer habit, and competitive pressure have on a company, brand tracking can provide the roadmap to enduring brand health that will keep a company on the right path.
Before Engaging in Brand Tracking
Before engaging in a brand tracking strategy, there are key points that must be taken into consideration. It is important to know your audience, including both customers and non-customers. While customers can offer valuable insight into the strengths and weaknesses within the company ( KeltonGlobal.Com ) in question, non-customers can also show what a company needs to improve, and where a company is currently falling short of its competitors. It is also important to have a clear vision of what you would like to achieve by participating in a brand tracking strategy. Distinguishing between brand attributes and product or service features is of the utmost importance, while also effectively communicating what your brand stands for. Always keep in mind your company’s competitors as well; knowing how you compete with them and whether their product or service is more enticing is valuable information for your own organization.
Brand tracking is one factor within the broader subject of quantitative research. This type of research deals specifically with data, which is then used to animate and inspire, solve any issues or problems, prove business cases, and uncover any potential opportunity. In order to gather data to study, it is common for those involved in quantitative research to create questionnaires, much like those often used in brand tracking strategies. Respondents who are asked to complete the survey at hand are pivotal to the collection of research data, which is then used to further understand the needs of individuals in the marketplace, as well as to create strategies and marketing plans. In order to gather accurate data, one must ensure that the sample taken is not too small or inappropriate in any way as a result of the sample taken, the research design, the interviewer carrying out the questionnaire, or the respondents. Avoiding such issues will result in a sample that can be used to carry out the important task of brand tracking, and that will enable you to fully comprehend the positive and negative attributes currently associated with your company or organization. By combining the strengths of a quantitative researcher and a journalist, it is possible to connect seemingly disparate information in order to engage the organization and empower such companies to make smart, data-driven decisions concerning their brand.