There is a very fine line if any between marketing and branding. Viva consulting can help you develop your brand image through insights drawn from its market research capabilities.
Market research provides valuable information regarding what the consumers need and how well are those needs met. Allowing opportunities to position your brands competitively in the gaps that may appear in the market. Change in demographics of the Dubai & UAE region, technological innovations, and customer expectations make the market very dynamic and keep changing the problems and opportunities that a business face.
Developing a long-term business strategy in such a volatile business environment requires a thorough market research study. Creating an effective brand image does have a long-lasting effect on business profitability and sustainability.
Studying consumer behavior can help understand current market scenarios and also identify future trends in buying behavior. An ability to connect a product to the sentiments of the consumer is what will set it apart from its competitors.
Branding and marketing are so synonymous that they are often used interchangeably. A brand is like a persona that is developed of a product or service. It’s like the face or and identity that is created for people to relate to the product or service offered by a company/organization. Creating and developing a brand that strikes the right chord with your target customers is invaluable. Nurturing customer loyalty aids the bottom line and increased profits by reducing customer acquisition costs.
The best way to feel the pulse of the market is through direct interaction with the end customers through market research. Understanding consumer requirements and needs whilst at the same time comparing product offerings in the market against customer satisfaction requires a structured approach. An effective market research study can highlight the existing opportunities in the market whilst also providing key information regarding the target market customer profile. This information is of great use for a company to plan and design its brand to achieve its marketing objectives.
Branding when effectively used creates an emotional bond between the consumer and the product/service. While the main purpose behind branding is to increase the sales and hence the success of the product/service. This is also a good way to check if your branding initiatives are proving to be successful. Brand visibility and recall can be checked by evaluating whether people can identify your products just by their logo, colors, and marketing tagline. Using questionnaires to check how effective your marketing strategy has been doing in influencing people’s buying decisions can bring in some vital information.