Brand awareness and

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Brand awareness and

  1. 1. Brand Awareness and Brand Perception are the two key metrics companys use to measure brand strength.Unfortunately, these two terms are incorrectly used interchangeably. To make a clear distinction betweenthe two terms, lets take a closer look at each term.Brand perception is created by consumer experience with the brands product or service. In other words,perception is the values consumers attach to a brand. To measure brand perception, studies often includequestions like “How do you rank each given brand in terms of safety, quality or performance?"Brand awareness simply refers to how many people know your brand, and is often the result of the brandsmarketing communications. Usually awareness is measured through studies that ask participants a series ofquestions like “What brand comes to your mind if you want to buy coffee?" In general, companies measureunaided brand awareness---what percentage of study participants mentioned the brand without any kind ofhint. Research has shown that both brand awareness and perceptionhave a significant impact on the brands market share. So, which is more important? Awareness orperception? For a growing company or industry like social media providers, awareness could be the keydriver to grow product/service usage. On the other hand, for a mature business segment, awareness maynot be the major driver of market share. For example, nearly 100% of consumers are aware of the Cadillacbrand, but many would not be likely to buy Cadillac vehicles. In this case, perception matters the most forCadillac. However, the stage of a company and industry are not the only variables that drive the importanceof awareness vs. perception, other factors such as type of product, level of competition, switching cost andrisk of switching also have an impact.Now that we understand the difference between the two terms, why should they be important to you?Branding is crucial for products and services sold in huge consumer markets. It’s also important in B2Bbecause it helps you stand out from your competition by bringing your competitive position and valueproposition to life. In essence, your brand consistently and repeatedly tells your prospects and customerswhy they should buy from you.Understanding your brands awareness and perceptions and crafting a brand strategy around them can be adaunting task. Strategic Marketing Services has vast experience in this area and would be happy to discussyour specific brand awareness or perception needs. Ultimately, we want to help you be in a position to useyour brand strategy in every market interaction so you can strengthen your marketing communications,relationships and your bottom line.

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