What is brand market research?
Brands are not defined just by the products or services they offer. Every brand has its own objective, goals, and growth targets. To achieve these goals, businesses must understand their brand perception. Assessing a brand’s perception requires brands to analyze and understand the needs of the larger customer base and the audience it caters to. This very fact necessitates businesses to understand how their communications are perceived across markets. Through its brand market research solutions, Infiniti aims to help businesses understand market dynamics and gain an edge through objective, insight-based ideas, recommendations, and business plans.
Product manufacturing companies often start the value creation process from a functional standpoint. At the same time, service-oriented companies will start from the opposite end of the spectrum and focus on creating a customer-centric business plan. With a similar objective, a leading semiconductor packaging firm based out of Canada approached Infiniti to conduct a brand market research study and analyze factors impacting growth. Apart from tackling negative perception barriers, the client wanted to leverage brand market research insights to formulate suitable sales strategies and growth plans.
Continue reading to learn how we made it possible for the client.
Overview
Region: Canada
Industry: Semiconductor Packaging
Company Profile: Based in Canada, the client is a leading provider of semiconductor packaging services. The semiconductor packaging firm is well-known for its turnkey solutions covering semiconductor assembly, test, wafer probing, and packaging services.
As an integral part of the Canadian semiconductor value chain, the company focuses on developing innovative packaging solutions. To achieve its brand development goals, the client has also begun working with other industry participants and is actively involved in M&As to explore strategic alliance opportunities to innovate and build a mutually beneficial business environment.
So, you’ve looked through the brand market research service portfolio here on our website, and now you’d like to get some questions answered. If that’s the case, contact us to get started!
Business Challenge
Given the high competition and dwindling economy, many semiconductor packing companies are struggling to grow. “A rigorous rethinking of brand strategy can help create a business plan to uncover new opportunities and turn them into real revenue,” says Infiniti.
Our client, a leading manufacturer of semiconductor packaging solutions, had recently acquired few brands to support their portfolio expansion needs. Since its inception, the semiconductor packaging company has been a pioneer in efficient packaging, offering innovative packaging services and pursuing new digital business models. Having acquired many of its brands, not all were aligned with the core objectives and company’s vision. Since their overall brand affinity was very different from the one perceived, they wanted to formulate a business plan to enhance the brand reach and drive profitable growth.
To succeed, the client needed to properly align all the brands under its portfolio while still emphasizing each brands’ strengths. As a result, conducting in-depth brand market research to understand market conditions, the impact of market disruptions, and how the conditions evolve was crucial for the client. They approached Infiniti to develop a custom brand market research solution to align their brands with the brand promise – Innovation and Agility.
How do you make informed business decisions when it comes to improving brand awareness? Infiniti Research helps brands analyze the market, identify new trends, and understand customers within any industry. Request a free proposal to leverage our brand market research solution!
Our Approach
We conducted a detailed brand market research study to help the client understand the market and brand perceptions of its broader customer base. Our holistic solutions also uncovered new semiconductor industry trends and methodologies to support the client’s business growth.Based on the data obtained from the brand market research report, we co-created a new business plan and sales strategy to market their services and enhance brand affinity.
Moreover, with brand market research insights, the client gained the clarity required to map service levels and efficiency with that of their competitors. An analysis of semiconductor packaging trends helped them analyze market developments, find new M&A opportunities, and subsequently move up the ladder by bridging gaps and implementing the necessary changes.
The brand market research study covered various aspects helping the client find answers to their most pressing challenges. The recommendations and solutions offered included:
- Brand perception mapping
- Creation of brand visualization maps
- Brand awareness strategy
- Brand management
Infiniti can help you make strategic decisions about your services or product brand portfolio by leveraging structured, in-depth market research insights. Request more information now!
Outcome
The brand market research study helped the client build awareness and appeal at the right levels to maximize brand value. By focusing the efforts and resources in the right segments, the client was well-positioned to succeed. Formulating a new sales strategy and business plan also helped the client gain clear insights, analyze its business direction, reassure its investors while unraveling new long-term business opportunities with major clients. As a result, the client can now clearly articulate business needs and analyze why they matter to their most critical audiences.
The benefits achieved:
- Enhanced brand awareness
- Improvements in brand affinity with a 25% increase in brand reach in Q1
- Measurable revenue gains obtained through advanced targeting and sales plan
Evidently, the insights obtained from brand market research had a huge positive impact on brand reach. The market reports helped the client execute the right sales strategies to improve their market presence by over 25%. Targeting new customer segments also helped them acquire new markets and increase their revenues by 13% year on year basis. The company that witnessed a downward growth trajectory bounced back with a new business plan and brand awareness strategies.
We’ve resolved brand management challenges for clients of all kinds, including diversified multinational corporations, technology startups, and non-profits. If you’re looking to conduct a brand market research study, request a free brochure to better understand its benefits.
