Why Is It Not Worth Waiting Out a Crisis?
Many years of Kantar's experience in brand strength research shows that withdrawing or trying to wait out a crisis is certainly not the right approach. The BrandZ project proves that brands which, during a crisis, made well-considered investments in marketing and communication activities returned after it subsided with strength nearly five times greater than before the crisis.
However, on the other hand, the risk of losing marketing budgets, especially with such high inflation, seems greater today than ever before.
Years of relative social and economic calm accustomed us to a long-term perspective for analyzing brand value and strength. Market research was also tailored to this approach. Today, however, knowledge about a brand's strength and how to manage creation, communication, and distribution is needed literally here and now.
Quick Diagnosis of Brand Strength
With such quick and easy brand strength research, adapted to current conditions, in mind, Kantar is introducing the global Brand Equity Evaluation tool on the Kantar Marketplace platform.
Brand Equity Evaluation is a diagnosis of a brand's market situation that clearly indicates potential business development directions and allows you to understand:
- How is the brand performing?
- What is the brand's strength?
- How can growth be enabled?
- Where does brand strength sit in the decision-making process?
- What predispositions should be developed in the brand?
- Are we building brand associations in line with its strategy?
- How does our positioning compare to the competition?
- Which brands are weaker and may be a source of growth?
- Which competitors could potentially interest the brand's current users?
How to Save Your Marketing Budget During a Crisis?
Thanks to the Kantar Marketplace platform, this knowledge can now be gained quickly and easily and used in necessary, ongoing strategic decisions resulting from the changing economic environment.
Karolina Arcimowicz, Brand Domain Operational Lead at Kantar Polska, talks about how important it is today to monitor brand strength and about the Brand Equity Evaluation tool: video.
About Kantar Marketplace
Kantar Marketplace – How Does It Work?
The Kantar Marketplace platform was launched in 2019. It enables consumer insights specialists, as well as marketers and agencies, to test faster, gain knowledge, and take action. This automated platform, currently available in 70 countries, delivers insights of a quality that allows decisions to be made in situations such as the need to obtain feedback on a creative idea, develop a new product, or launch an advertising campaign. In 2021, Kantar Marketplace achieved 120% year-on-year growth. The platform is currently used by more than 1,000 clients in the corporate and institutional sectors.
About Kantar
Kantar is the world's leading company specializing in marketing data processing and analysis. We have deep, unique in the market, well-established knowledge about how people think, feel, and act – both globally and locally across more than 90 markets. We combine our employees' in-depth expertise with data and benchmark resources and proprietary innovative analytical and technological tools. As a result, we help our clients better understand people and achieve sustainable growth.
Summary
In uncertain times, brands should not give up on marketing – Kantar data indicates that well-considered investments during a crisis can yield up to five times greater brand strength after it subsides. The new Brand Equity Evaluation tool on the Kantar Marketplace platform allows you to quickly assess a brand's market situation, identify growth directions, and make ongoing strategic decisions. It is a response to the growing need for immediate knowledge in conditions of high inflation.
Kantar Marketplace has been operating since 2019; in 2021 it recorded 120% year-on-year growth and serves more than 1,000 corporate clients.
