It is the research activity that is conducted to understand what customers think and feel about the brand and its corresponding product category to identify sources of brand equity. Several preliminary activities are useful for the brand exploratory. A number of prior research studies may be relevant. It is useful to interview company personnel to gain an understanding of their beliefs about customer perceptions. The diversity of opinion that typically emerges from these internal interviews serves several functions as it increases the likelihood that useful insights or ideas will be generated. It also points out if there is any irregularity or misunderstanding.
Although these preliminary activities may yield useful findings and suggest certain hypothesis, they are often incomplete. Additional research may be required to better understand how customers shop for and use products and services and what they think of various brands. To allow a broad range of issues to be pursued in greater depth, the brand exploratory often employs qualitative research techniques such as word associations, projective techniques visualization and so on. Required for a model becomes a considerable factor after all these evaluations.
Many firms are now using ethnography to supplement traditional focus groups. They study consumers in their everyday habitats at home, at work, at play and at shopping. Research is something that opens up a lot of facts and figures for detailed study. We can derive as much we want from the conduct of such study. It not only provides wide details but also gives data’s and information’s on which we can fully rely on.