Problem

A leading manufacturer of fastening products sought to measure their share of the market among PRO and DIY customer segments. In order to keep an accurate pulse on their brand share and what’s driving purchase decisions, this manufacture commissioned annual custom brand health market research studies in conjunction with customer usage & attitude research from our team at The Farnsworth Group.

Process

The research project began with a series of discovery meetings to unearth the deepest root questions needing to be answered in order to ensure the findings would create a well-rounded picture of the high and low points of the company’s brand share. Our team collaborated with the manufacturer’s team to ensure relevant competitive brands and brand attributes were included in their brand health research.

The following primary questions were addressed in a mixed mode (phone and online)quantitative study.

• What is the usage of various fastener types?
• What is the brand awareness and brand usage of each type?
• What is the likelihood of considering and recommending a  specific brand?
• What is the willingness to purchase other products made by the company?
• What are the key brand selection drivers?
• How well did brands perform on the selection drivers?

The Farnsworth Group leveraged resources to gather quantitative surveys from Pros and Homeowners. To increase accuracy of the study, our team took the extra step to translate the survey into a Spanish for a well-rounded sample demographic among buyers. Our research team then used TURF analysis to aid determination of selection drivers.

Outcome

Insights and recommendations allowed the client to determine their position in the market – including share, consideration, and perception. This helped the marketing team better position their brand to align with customer needs by addressing product attributes most important to Contractors and DIYers.

The market research findings also gave the product development team a priority list of recommendations for improvements needed to close the performance gap, as well as product development efforts where they could reduce investment to focus more on what matters most to customers. In the end, the research and insights support marketing and product strategies that drive long term sales growth and increased brand share.