Traditionally used for pricing research, conjoint analysis is very applicable for brand research as well. Respondents rate their buying intent for products comprised of various combinations of attributes (including product, service, sales terms, price, and brand attributes). Brand name is one of the attributes. Not only is this an excellent approach to measure the overall equity of your brand name vis-à-vis competitors, but it also allows you to measure the interactions/relationships of your brand name with other attributes. Simulation exercises also allow you to project the impact on share of preference for various attribute combinations (what-if exercises).
For additional information on conjoint analysis, go here.
© 2015 Brad VanAuken. Reprinted from Brand Aid, second edition, available here. Brand Aid devotes a chapter to brand research highlighting dozens of different brand research approaches.
Post a Comment