Brand analysis is the process of studying a brand and its performance in the market. It is an important tool for businesses to use to understand the strengths and weaknesses of their brand and identify opportunities for improvement. There are several reasons why businesses may need to conduct a brand analysis:
Overall, brand analysis is an important tool for businesses to use to understand their brand and identify opportunities for growth and improvement.
1. Brand Health Check
Identify the Numeric KPI to see all perspectives of your brands, then build a scorecard dashboard that you can monitor every month. Brand Scorecard varies depending on the industry and business goals, but some common KPIs for a brand scorecard include:
2. Market analysis
The most popular measurement is the growth-share matrix, also known as the Boston Consulting Group (BCG) matrix, which assesses a company's product portfolio and determines which product or segment should receive the most investment.
The grid is based on the Brand market growth rate and Brand market share and is divided into four quadrants. Brand strategy in each quadrant should be different.
The growth-share matrix can help a company prioritize its investment decisions and allocate resources effectively. However, it has some limitations, such as its reliance on market share as a sole measure of a product's success and its failure to consider other factors that may affect its performance.
Customer analysis: Study the brand's customer base to understand their demographics, preferences, and behaviors.
3. Opportunity Lost Analysis
Quantifying the number of expected sales would help us know how much we should invest.
There are 2 possible ways.
It refers to potential business growth that was not realized due to missed opportunities or poor decision-making. It can be caused by various factors, such as a lack of resources, inadequate planning, or a failure to seize opportunities as they arise.
The calculation is
Formula = (A-C) x B
The fair share gap is the difference between a company's actual market share and its potential market share, also known as its "fair share." It is typically used to measure a company's performance in a specific market.
To calculate the fair share gap, you can use the following formula:
Fair share gap = Actual market share Potential market share Potential Market Share can be, for example
-Your company's market share combining all brands
-Your brand market share on average in many markets
-Your targeted competitor’s market share
4. Competitors Analysis
Competitor analysis studies your brand's competitors to understand their strengths, weaknesses, and strategies. It is an essential tool for businesses to stay competitive in their market and make informed strategic decisions.
To conduct a competitor analysis, you can follow these steps:
5. Brand perception analysis
The process of studying how consumers perceive a brand and its products or services. It is to understand their brand's strengths and weaknesses and identify improvement opportunities.”
There are several ways to conduct a brand perception analysis, including:
Below are the most common traps we have seen happening during a Category Management approach implementation
What company could help brand manager to successfully implement brand review process.
From constantly changing prices, availability issues to continuously growing competition, we help teams take the right decision to develop winning category strategies
Promotion history, campaign analytics & promotion planning help teams deliver stronger promotions ROI
We connect shoppers & loyalty data to help Insights & Category Management Teams build compelling shoppers’ strategies
User friendly interface, interactive charts and tables create an intuitive & interactive platform that teams love
Internally with your own teams or externally with business partners, share insights and recommendations to establish a common language while maintaining your own segmentation
Whatever your data format, granularity level or source, deliver a seamless access to insights & recommendations with automated data ingestion, structuring & cleansing processes
Hypertrade is a retail tech company in Category Management and Shopper Behaviors Analytics. Manufacturers use our platform to manage their multi-retailer data sets and to automate their category management and sales analytics. Retailers use our platform to improve their Commercial offering, collaborate with their suppliers and Engage their Shoppers. Building on Sales, POS & Loyalty data, some of the things we fully automate are:
• Brand& Category Score card
• Brand automatic Diagnostics
• Range Optimization
• Promotion Planning & Forecasting
• Shoppers baskets analysis