Brand equity China
Brands are viewed as the primary enduring asset of a company, outlasting the company’s specific products and facilities. In particular, in China, consumers rely greatly on Brand value and awareness to purchase. Daxue Consulting Brand Equity China solution will ensure you to develop the best of your existing brand on the Chinese market with customized and proven methods.
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Daxue Consulting Expertise for Brand Equity Research in China
Daxue Consulting served numerous international brands wanting a further analysis of their brand equity in China. Daxue Consulting’s team worked with companies in sectors such as automotive, fashion, sports, consumer electronics or food & beverage. The methodologies can include:
- On-site quantitative survey (interception in front of the store): does the customer know the client’s brand when engaging in a purchase process, before facing the shelf?
- Online quantitative survey (allows a very specific sample targeting): what segment of consumers best knows the client’s brand? What are the strategic segments of consumers where the client can improve its reach?
- Consumer workshops and focus groups (allows in-depth insights): how do consumers perceive the client’s brand? Its product when facing it? Its competitors?
- Big data (to gather real and large-scale figures): what is the volume of research associated with the client’s name on Chinese search engines? On e-commerce platforms? What are the semantic fields associated with the client’s brand by consumers? What is the profile of people looking for the client’s products?
- Desk research (to optimize the use of existing data): what is the media coverage related to the client’s sector in China? What brands are mentioned in online sources? How do Chinese consumers mention the client’s brand on social media?
The brand equity research service at Daxue Consulting allows clients to understand more about their brand’s image in the Chinese market. The aim of this service is to find out the degree to which Chinese consumers know the client’s brand, as well as its competitors and the ideas their brands associate with.
What is brand equity in China?
Brand equity is the intangible value of a particular company or product based on consumers’ perception of the brand name. Many factors contribute to brand equity including advertising, consumer reviews and publicity. A brand with high equity tends to be well-known and thought of positively by many consumers. This helps create the perception that its products or services are better than those of lesser-known brands.
A brand’s power derived from the goodwill and name recognition that it earned from consumers and the market over time can be translated into higher sales volume and higher profit margins against competing brands.
Brand equity is usually measured on three levels:
- the firm level,
- the product level and
- the consumer level.
We are discussing consumer-level management which focuses on brand recognition and opinions.
Why is brand equity crucial in China
Building a strong brand with high equity in China provides a host of possible benefits to a firm, such as
- greater customer loyalty and less vulnerability to competitive marketing actions or marketing crises; larger margins;
- more favorable customer response to price increases and decreases;
- more major trade or intermediary cooperation and support;
- increased marketing communication effectiveness; and
- licensing and brand extension opportunities.
Positive brand equity in China can help your firm in a variety of ways. For example, the financial benefits enable a firm to charge a price premium for that brand. The firm’s brand has enough equity that a price premium is not only accepted; but it is also expected. Positive brand equity can also help not only increase sales and revenues and expand business through successful brand extension, but it can also help reduce costs. There is little need for awareness promotion for a brand that has deep, positive equity; marketing budgets can be more strategically invested in programs that will drive short-term results.
A company with high brand equity is also positioned for long-term success because consumers have established deep connections and loyalty to the brand that even if the brand has encountered a bump in its development road and affected a little of its brand reputation, consumers are more likely to forgive and understand. Positive brand equity helps a company navigate through macro-environmental challenges far more quickly than brands with little or negative brand equity can.
How Daxue Consulting Brand Equity China will build your branding in China
Daxue Consulting’s team has been managing brand development on China’s market through our solution Brand Equity China, covering most first-tier and second-tier cities and providing in-depth and reliable data for our clients. When it comes to brand equity, Daxue Consulting is professional and able to deliver services as below:
Introducing a brand in China
Daxue Consulting helps companies and individuals to start a business in China for its market research, potential analysis, cost analysis, implementation feasibility, data-mining across the internet.
Daxue Consulting Brand Equity China activates various methodologies for you to get an accurate idea whether to grab a new business opportunity:
- Market research
- Documentary research
- Interviews with market experts, clients, competitors, and prospects
- Synthesis of internal documents etc.
The recommendations resulting from the research go along with the following documents: Figures on the main distribution networks; a benchmark of practices of competitors and their strategies; Summary sheets that detail the opportunities to grab; Recommendations about the business environment.
Brand Visibility Analysis in China
Daxue Consulting Brand Equity China helps companies to measure their brand visibility. We interview prospects, customers, and bystanders to get their opinion on a certain brand. Several visual presentations might also accompany the interviews. These studies are not only aimed at helping our clients to understand the results of their marketing campaigns but also to help them prepare for upcoming communication campaigns. The recommendations are as operational and efficient as possible.
Daxue Consulting uses various proven methodologies to analyses your brand visibility in China, such as:
- Quantitative face to face interviews
- Online survey
- Qualitative interviews with opinion leaders
- Focus groups of 8 to 12 people
- Telephone interviews
The Brand Equity China deliveries included with the brand image study may also encompass PowerPoint with graphs, raw data collected from the users/clients / prospects in Excel format, Videos and audiotapes of focus groups with conclusions, Recommendations on the marketing strategy.
Online Brand Presence in China
Daxue Consulting specializes in amplifying a brand’s online presence in China through very close-to-market methodologies. For instance, the social media listening solution will enable its clients to better understand how consumers are engaging with brands online in comparison to competitors.
Online visibility and popularity can be accessed through the images Chinese consumers associate with the brand and the level of interaction online. Social media platforms such as WeChat and Weibo are specific to the Chinese market, hence they require local expertise, such as that provided by Daxue Consulting, to extract valuable information.
Online brand presence is crucial in China, especially to clients in e-commerce businesses. Engaging with consumers online can significantly increase the quantity and value of purchases.
Offline Brand Presence
Daxue Consulting also assists brands to assess their offline presence in the Chinese market. Through the store checks solution, Daxue Consulting can provide information regarding the clients’ level of visibility in different stores. In addition, brand analysis can also be conducted to evaluate a brand’s presence in the Chinese advertisement industry. Through online and offline surveys, Daxue is able to understand consumers’ perception toward the brand.
Case from a Client in the Infant Formula Industry Daxue Consulting has previously helped a client in the infant formula industry with an in-depth consultation. Due to fierce competition in China, the client wanted to know how their brand was perceived among Chinese consumers. By mapping out the brand’s position with an offline survey in tier-1 and tier-2 cities in China (in Shanghai, Beijing, Suzhou, and Guangzhou) Daxue Consulting gave an objective and data-based evaluation of the brand equity and to recommend a portfolio of marketing action – both offline and online – relevant to re-boosting the brand image of its client. Daxue Consulting then provided a follow-up plan conducted every semester for 2 years to support the client’s operational actions including online KPIs measurement and offline surveys. This follow-up exhibited a growth of the brand’s online presence of 26% YoY and a growth of its brand awareness toward its pre-determined strategic segment of consumers of 33% YoY.
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