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Archive for the ‘Brand Preference / Brand Persuasion’ Category

Why Purchase Intent is an awful question and what you should use instead

April 22nd, 2024 Comments off

Using purchase intent as a decision metric in advertising research?

Terrible idea. Here’s why:

1️⃣ It’s not predictive of sales. MSW’s Brand Preference correlates to sales at 0.87, rising to 0.92 with price and availability factored in.

2️⃣ Purchase intent asks the wrong question. MSW’s brand preference forces consumers to make a choice, reflecting true buying decisions.

3️⃣ It lacks consistency across borders, influenced by country, culture, and demographics.

4️⃣ Benchmarking is near impossible. Big brands naturally score higher due to higher penetration, skewing results.

5️⃣ You learn little. Purchase intent doesn’t predict sales or reveal brand competition insights.

Switch to MSW’s brand preference for more informed decisions that drive sales, volume, and market share.

And contact me and I’ll share a special bonus reason #6 – for why using purchase intent is a terrible decision.

 

| Video Blog | Strategic Branding for Margin Growth

April 2nd, 2024 Comments off

In the realm of successful brands, one thing stands out: distinctive brand assets.

Whether it’s a memorable color, logo, design, or jingle, these cues aid in memory encoding and signal availability.

Yet, the true value of these assets lies in the eyes of consumers. They expect a return on their investment in terms of time, money, and performance.

And it’s precisely this value that can be measured and cultivated for growth.

But here’s the catch: building a sustainable positioning solely on functional attributes is a tough sell. Every product innovation can be replicated.

Instead, brands must tap into emotional needs and foster emotional intimacy to truly stand out.

Enter MSW Research’s Brand Preference—the compass guiding brands toward success.

By prioritizing activities against competitors and leveraging distinctive brand assets, brands can boost usage and loyalty.

It’s not just about branding, it’s about strategic branding for margin growth.

| Video Blog | Importance of Retention and Brand Loyalty

April 2nd, 2024 Comments off

In the world of brands, loyalty reigns supreme.

Yet, the truth is, most consumers aren’t loyal to any single brand.

At MSW Research, we delve beyond behavioral loyalty, focusing on attitudinal loyalty—the kind that makes a brand their top choice, their go-to.

Our research reveals a stark reality: only half of all customers feel loyal to any brand.

The rest? They’re swayed by availability, promotions, or simply a desire for variety.

It’s easy to fall into the trap of prioritizing short-term promotions to retain customers, but this strategy often backfires, eroding brand stature and impeding long-term growth.

That’s where MSW’s Brand Preference comes in.

By leveraging our solutions, you gain the insights needed to accurately project loyalty levels, assess market value, and attribute brand growth to various marketing activities.

Don’t just chase fleeting loyalty, cultivate enduring brand preference.