Brand Equity Essay

1292 WordsJul 25, 20116 Pages
Applying Advanced Analytics to B-to-B Branding Research By John V. Colias, Ph.D. The importance of branding is understood by serious business-to-business marketing researchers, but when it comes to analyzing brand equity, most companies fail to use advanced analytics to its full potential. All too often, branding studies simply track key measures; they fail to quantify causal relationships, and deliver weak predictive power. Or, if research attempts to deliver statistical models, the models identify key attributes and their relative importance, but do little else. To be sure, some useful information and knowledge can be gleaned from these expedient solutions. In most cases, however, there is little insight to guide branding strategy and define concrete actions that impact brand equity. When it comes to the practical application of branding research, senior management is usually underwhelmed. Most senior managers are not very patient when it comes to long-term branding assessments. They want to know what customers expect from their brand and why they choose it versus competitive brands. When they invest in marketing research, they are looking to the findings for guidance on achieving immediate marketing goals and for making strategic decisions that will impact the future. With the increased emphasis on accountability, measurement, and ROI in B-to-B marketing, the focus is often on measuring the efficacy of tactical programs. While necessary, these assessments don’t lead to insights that impact strategic decisions about what new direction a business should take. Management is asking questions such as: Where should resources be allocated for differentiation? What actions should be taken to have the greatest impact on customers choosing our brand? What will be the impact of these actions on our competitors? B-to-B branding research can be a far more effective

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