Market research can play a vital role in developing or evolving the definition of a brand. Brand owners used to conduct studies to identify the needs and priorities of different groups of category buyers. Then, they’d pick segment(s) to target and then focus their efforts on these types of people, particularly when advertising the brand.
The following framework is helpful when assessing the potential of creative ideas.
For marketing to have a strong influence on the business, it needs to develop close relationships with other business units and external suppliers. This ensures that everyone is focused on delivering a user experience that meets or exceeds expectations.
Replicating a brand’s success internationally can be a great way to multiply its profits. Culture and customs vary across the world, however, so what makes a brand successful in one country does not guarantee success elsewhere.
Brands are born when someone has an idea for a product that they believe others will want to buy. There’s a reason for bringing the brand into the world – a clear purpose. Eric Ryan and Adam Lowry, cofounders of Method cleaning products, believed that people would pay more for eco-friendly products if they were both stylish and helped clean up the planet. The rapid growth of their brand proves they were right.
