Those that actively monitor their brand health are able to identify issues early on, such as negative customer sentiment or declining market share, and take measures to address them. Brand health metrics provide valuable insights into your market position, consumer perceptions and preferences, and overall performance.
In October, dozens of building material manufacturers and suppliers gathered for two days of collaboration at The Building Products Customer Workshop. Attendees partook in deep discussion and debate on how to define customers, how customer behaviors are impacting supplier and product decisions, and how to improve the interaction of sales and marketing. Ultimately, manufacturers and suppliers know they can’t just keep doing what they’ve done for the last couple of years. Consider the implications for your company regarding these hot takes:
Business, especially large brands, see the Halo Effect bias when customers associate a brand positively and as a result feel that same positive connection extended to every product sold, regardless of its features or release. For example, Makita power tools have developed a strong perception of being fit for professionals and craftsmen because of their durability, while Ryobi power tools often appeal to entry level DIYers and handy homeowners because they’re cost-effective and a lower barrier to entry for the average homeowner.
Triangulating data in research involves combining multiple sources, methods, or perspectives to ensure the credibility, validity, and reliability of findings. Here's a step-by-step guide on how to triangulate data in research:
Here is a look at some of the emerging and prevalent trends in the market research industry and the measures being taken by our team at The Farnsworth Group to stay on top of changes, continually implement best practices, and ensure the reliability of research findings:
Download informative reports to keep a pulse on how your target DIYer, Contractor, Builder, and Architectural customers' purchase behaviors are changing.Browse RESOURCES