What Is & How to Conduct Secondary Market Research

What Is & How to Conduct Secondary Market Research

Whether launching a new campaign, researching a potential marketing channel, or just snooping in on what the competition is doing, odds are you will encounter secondary market research at some point in your role.  Secondary research can be a very flexible and cost-effective way to find answers to your problems and get a feel for…

12 Common Biases and How They Influence Decision-Making
|

12 Common Biases and How They Influence Decision-Making

People are not rational decision makers. Quite the contrary we are highly irrational in almost everything we do. That’s because despite best intentions to remain as objective as possible there are just so many things that influence us in any given moment — both on a conscious level and on a broader emotional and subconscious…

The Fundamentals Of Brand Trust: Building Trust The Right Way
|

The Fundamentals Of Brand Trust: Building Trust The Right Way

It’s important for brands to nurture trust, no matter big or small. In fact, it’s easier for small brands and can lead to significant financial benefits. Brand trust is all about credibility and integrity. Once you understand that you can build brand trust more effectively. Trust is important in essentially all interactions in our society….

4 Consumer Insights That Help SMEs Gain a Competitive Edge

4 Consumer Insights That Help SMEs Gain a Competitive Edge

SMEs suffer a disadvantage in the marketplace when competing against large brands. There are, however, several psychological consumer insights that SMEs can use to their advantage. These include personifying the producer, positioning as an underdog, using attractive packaging and crowdfunding their products. Startups and other small and medium-sized enterprises (SMEs) operate at a severe disadvantage…

Advice To Business Owners: Don’t Ignore Brand Hate

Advice To Business Owners: Don’t Ignore Brand Hate

Brand hate is inevitable for every business. As people grow a liking to you, other people start to dislike you. Brand hate is caused by three key emotions: disgust, contempt and anger in different combinations that lead to different behavioral outcomes. Marketing discussion tends to focus on the positive emotional attributes in branding. You hear…

Why Do People Buy Luxury Goods And Why Are They So Expensive?

Why Do People Buy Luxury Goods And Why Are They So Expensive?

People buy luxury goods to gain status and ultimately improve their lives. Luxury brands are expensive because they have to be. If luxury brands were cheap, they would lose their ability to ascribe social status to their buyers. Porsche is the most valuable luxury brand in the world. Brand Finance estimates its brand value at…

What is a high involvement purchase decision?

What is a high involvement purchase decision?

Consumers make both low and high involvement purchase decisions. Low involvement decisions are quick and automatic while high involvement decisions take much more effort. A high involvement purchase decision can have low involvement steps and is shaped by a number of personal and situational factors. Consumers make decisions that are either high involvement or low…

What are brand communities? 3 unique qualities [+ examples]

What are brand communities? 3 unique qualities [+ examples]

Brand communities are vibrant collections of brand fans that form on its own or are engineered by marketers. All brand communities have rituals and traditions and its members share consciousness and have a sense of moral responsibility to one another. Brand communities provide rich benefits for both consumers and brands. Consumers are becoming more and…

33 everyday words that are in fact brand names

33 everyday words that are in fact brand names

Brands often become so commonplace in culture that their literary expressions make their way into everyday vocabulary and become generic terms. Formally, these are called generic trademarks. This can happen for many reasons but usually a company introduces a product with a distinctive brand name that becomes so popular that instead of describing a product…