A brand tracking gives you continuous knowledge on how consumers recognize, associate, and perceive your company and products. Having continuous knowledge on the likability/dislike or your company/products, value for money, quality level, brand awareness, etc. should shape the actions that you take, to ensure you meet your goals and recognize potential opportunities. Thus, the brand tracking is an essential element in your consumer insights setup and often a vital part of the management reporting for spotting performance and development in key markets.
The insights from a brand tracking are also used for:
Brand trackings are performed on a continuous basis for existing products or service on the market. Depending on the depth of the tracking, it should be conducted two, four, or 12 times a year.
Brand trackers measure a range of brand evaluation factors, including:
The insights will provide you with an up-to-date overview of product performance and lays the foundation for your decision-making on further product development.
Brand trackers include brand funnel questions (unaided and aided awareness, consideration, preference and optionally advocacy/loyalty), additionally brand image and price perception questions can be added.
Using simple descriptive statistics, and optionally driver analysis and brand image analysis, results are tracked and compared across time and competition:
