Brand Recognition – Speculation is no substitute for solid market research

Posted by Jason Tiffer on Oct 1, 2018 2:44:00 PM
Jason Tiffer

Brand Recognition – Speculation is no substitute for solid market research

There have been incredible discoveries in the field of psychology, which affect the decision making process and also marketing sciences. Over time there have been a lot of observations, which have been replicated that allow us to see low life patterns on how people behave, how they make decisions and so on.

Most decisions and behavior made by consumers are at a non-conscious level.  Physically and mentally we take a lot of decisions without even realizing that we are doing it. Science and creativity are incompatible. But at the end, nothing is further from the truth.

For instance, if we take up music, it’s absolutely about science, algorithm and patterns. Some of the greatest scientists were amazing musicians and vice versa.

Architecture, amazing creative work cannot be completed without the application of physics, otherwise they blow over. And similarly when it comes to the cluttered world of marketing, it’s all about brands and brand strategy, advertising and communication. Fundamentally, the core area of understanding an inspiration in insights is psychology.

When the traditional methodologies fail, in order to facilitate change, one must turn to behavioral sciences for a business advantage. It is the art of understanding consumer behavior and decisions. This has become a mainstream marketing thought. We should start using this methodology to promote better research, bolder marketing and bigger brand growth.

Marketing works on a simple premise – understand the customers’ opinions and give them what they want. Market research, the basis for marketing works on the premise that customers are willing and able to share their opinions, which can be analyzed. This becomes the basis for decision making for promoting a product.

Brands these days have a problem in advertising to an online audience, as they practice the traditional methods without listening and finding out what people really want to see or hear. This leads to unsuccessful marketing / brand strategy campaigns.

So the question is, how to make brand tracking pay off?

Well, it involves lots of focused research which could be time-consuming. However, in order to get satisfying results it’s always good to integrate new and productive data sources.

However, the world we live in now has changed drastically. The latest technological advances in online and mobile as well as new understanding of consumer psychology as demonstrated by the latest research in behavioral economics and decision making by the likes of Prof. Dan Ariely has initiated a colossal shift in how we think about consumer opinions.

For precise, satisfying outcome, one must always keep their eyes and ears open to understand what a consumer really wants and to help accelerate growth of companies. We do this with research on different devices and by clubbing data with the latest tools and applications to help crack the code.

It is with best interest that market research companies should work towards applying consumer behavioral psychology to understand consumer needs in order to facilitate easier market reach and goal. Borderless Access, an expert in understanding the cultural nuances in emerging markets and segments conducts over 3.9 million surveys across 34 culturally diverse markets annually and also helps in providing insights from over 3.4 million panelists profiled for over 40 quality parameters ranging from demographics to special attributes. Learn more on our capabilities around audience niche panels, online and mobile panels, customized reach and our indigenous progressive panel management solution – SmartSight.

Topics: market research, marketing, consumer behaviour, consumer attitude, consumer research, brand strategy, consumer psychology, advertising & communication

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