Finding your branding strenghts!

To increase your brand’s chances for success, you need to know five things:

* How strong is the perception of your brand, and what would make it stronger?
* What is the true level of consumer satisfaction for competitor brands?
* Will your brand introduce emotional connections with consumers who do not currently exist in the market segment?
* What percent of the market will consider change because of the disruptiveness of your product?
* How much awareness can you gain for the brand?

The answers to those five questions will determine your chances for successfully branding your product. There are various methods for conducting consumer research, like focus groups and e-mail surveys, that determine what would make a consumer recommend your brand to a friend. If cost is a concern, you must at least go out into the market, observe consumer behavior over a relevant period of time and keep tallies of each type of consumer behavior.

To succeed, you need to know what is the true perception of your brand, how many people hate it, how many it appeals to strongly enough that they would advocate for it and how that acceptance stacks up against the competition. The most successful companies pick a competitive position from which they know their brands can win.


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