Because so much is in flux in today’s marketplace…driven by the ever-accelerating and shifting changes in retail channel structure, digital media, and purchase habits…recognizing brand opportunities may sometimes seem daunting.
At RTi, we have been providing our clients with solid direction for growth opportunities via simple-to-implement research approaches.
Over the last few years, we have developed an approach to assessing brand opportunities in current landscapes by analytically integrating the supply side brands and demand side targets or segments in the same market framework.
Brand Positions: Supply Side
This is easily accomplished by mapping key competitive brands on benefit and need state perceptions that drive brand choice. Brand positions are clearly revealed and understood. The roles of your brand and importantly, close in and more distant competitors become immediately obvious.
Target Integration: Demand Side
Overlaying key consumer targets provides the next layer of strategic insights. Based on their perceptions of the supply side brands, key strategic targets can then be dropped onto the brand landscape (e.g., brand loyals, brand advocates, heavy category users).
For deeper insights, we typically recommend consumer segmentation (based on the brand benefit perception data).
Brand Opportunities: Clearly Defined Targets and Positionings
The demand-side segments are then overlaid onto the supply-side brand space to reveal/identify:
- Opportunities for increased brand share among key segment(s) currently supporting your brand.
- Other segments to target for incremental business via current positioning or via brand extension and the positioning changes needed to appeal to the extension targets.
- “White Space” opportunity gaps in other sectors of the landscape.
- Proprietary algorithms will readily simulate positioning changes needed for the brand to extend to reach other target segments within the competitive landscape.
Brand and hypothetical extensions then can be evaluated by sizing each segment in the landscape in terms of annual volume contribution (dollars, units or market share).
These types of competitive landscape opportunity assessments are usually made via competitive brand benefit perception rating modules in:
- Ongoing Brand Health tracking studies
- A&U studies
- Segmentation studies
Brand-building insights in today’s market landscape via simple-to-implement research!