For a number of years, Nunwood has been working with the world’s no. 1 manufacturer of household cleaning products.
Their business strategy is focused predominantly on their power brands, being the market leaders in terms of innovation, and heavy media investment.
Without strong equity, a brand is susceptible to short-term success with no guarantee of longevity and dominant market share.
Therefore it is vital for any brand to be able to establish itself in the minds of the consumer on the following dimensions: Social, Personal, Dynamism, Price and Brand Relevance.
The
Global Insight division at Nunwood conducts a monthly Brand Equity Tracker for this client across 10 categories: 800 customers are surveyed face to face. These results are disseminated throughout the organisation from Market Research Directors to Brand Teams through to Category Managers (both at a local and global level) automatically via Nunwood’s online insight management system
Fizz.
Results are used by the client to monitor trends and significant changes in order to plan strategies including setting their future KPIs, and forecast any changes in market conditions. Consequently, we deliver bi-annual debriefs per category, and produce monthly web reports via the Fizz online system to ensure that the client is aware of changes in key measures in real-time.
The
Market Analytics team at Nunwood add value through their brand equity model in order to evaluate each brand’s equity versus each specific equity attribute, but also on an overall equity level. This is done firstly via mapping the core brands within a particular category according to their key differentiating features.
Subsequently a drivers analysis is conducted which illustrates the 5 equity dimensions in relation to their relative importance in driving consumer choice in each category as a whole, and ultimately comes up with one Brand Equity Index to represent overall equity performance.
