Brand-building is absolutely crucial in this age of plenty, according to new market research.
“It is more important than ever for brands to stand out from the crowd and maximise their salience and recallability when consumers are prompted by a relevant need,” said Martin Guerrieria. Global BrandZ Research Director at Kantar Millward Brown, in a recent webinar.
Brands with a strong imprint are 52% more salient compared to brands with a weak imprint, BrandZ’s research indicates.
“Critically, this increased salience contributes to stronger equity from those brands…We see 76% higher power scores for brands with strong brand imprints,” Guerrieria said.
“Brands within the FMCG categories – fast food and soft drinks – tend to have stronger imprints than those in slow moving categories such as cars, technology and banking,” he explained.
“This points to the need to establish a strong imprint in the FMCG category in order to compete and gain an advantage, but also illustrates an opportunity to gain an advantage in categories where brand imprint tends to be weaker.”