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Marketing research is based on thorough study and evaluation of the market. When it comes to branding, marketing research can be used to cover the entire cycle –– from the conception to constant evaluation. <br>
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How Branding Evolved with Marketing Research in India Branding has changed dramatically with the development of market research in India. Marketers are now able to come up with better strategies, connect with their market and evaluate their performance
Market Research in India Branding has changed dramatically with the development of market research in India. Marketers are now able to come up with better strategies, connect with their market and evaluate their performance No marketing strategy can ignore the crucial area of branding today. With an overcrowded market and a media that is louder than ever before, branding has become increasingly important and complex. Interestingly, this has not always been the case. In the closed Indian economy of two decades back, competitive tools like branding had little use. The opening up of the market changed the scenario dramatically. It brought in new players and practices that forced companies and marketers to change their game. One such tool is market research in India. This marketing tool has completely changed branding practices in the industry today, making them more effective and long-lasting
Marketing Research Better strategies: Marketing research is based on thorough study and evaluation of the market. When it comes to branding, marketing research can be used to cover the entire cycle –– from the conception to constant evaluation. With its insight into the market, it has helped in devising well-rounded strategies that take into account consumer preferences, market conditions, media image and other important factors. Good agencies also brought scientific tools of research that were more efficient and accurate. Finding new markets: Often marketers have a pretty set idea about the market they are selling to. Research has brought forward newer markets and demographics. For instance, market research of a food catering brand that targets housewives for easy meals shows a marked need among office goers for packed lunches. The entire branding campaign can then be changed to target this new group.
Bridging the gap: One of the common problem in marketing is finding ways to connect with your market. Often one finds oneself isolated from real people with preconceived ideas about consumer behavior or falling back on market history to develop new strategies. Marketing research in India has been crucial in bridging this gap for marketers. Today, research has enabled brand developers to connect with a vast market –– from the rural consumer to a techie sitting in the US. Take out the kinks: Earlier brand development was very much a one-way street. One worked at a campaign, implemented it and then just hoped for the best. There was little follow-up on the performance of a campaign. For instance, market research of a sports goods company shows a disconnect with female buyers because of the absence of any female models in their campaigns. The company then launches a new campaign with known female athletes, bringing women buyers to its fold! Media measurements: The media is an important component of any branding campaign. It is in the media that brands are built and developed. Today this has become an increasingly complex task with the explosion of social media. Market research has emerged as the only way to assess a brand performance in this hi-tech market.
