Successful brands meet customers needs… Does yours?
When customers approach a purchase decision, they will often consider (conscious or otherwise) a variety of options prior to a decision being made. Trying to understand this process and how well brands meet customer needs has been historically difficult, if not impossible, until now.
Many companies struggle to articulate what they stand for or what they mean to people. Many know the product or service that they want to deliver but they have difficulty in explaining it to people or aligning it to what people want. Historically, Maslow’s ‘Hierarchy of Needs’ has been a popular tool for brands (and researchers) to help understand what is important to customers. However, the model consistently fails to explain how people make choices and what is important within any given category or market.
Not only do brand owners struggle to define their brands but customers can also find it difficult to explain why they choose specific products and what is important to them. For example, Daniel Kahneman’s System 1 Thinking (i.e. intuitive or subconscious thinking) means that consumers are not always aware or conscious of why they choose brands and this can makes it difficult for individuals to explain what they look for in a category and why they are prepared to pay for some brands over others.
Introducing the Brand Values System
Vision One’s innovative Brand Values System measurement tool (part of the Brand Equity Wheel), extends Maslow’s Hierarchy of Needs and evaluates customer needs across 24 functional and emotional benefits to provide a comprehensive understanding of both the category and brands within the market.
The Brand Values System is a powerful way of identifying both customer needs and the key drivers of value in your market. It also provide insights at a brand level to highlight how all the brands compare and on what basis so you can fully understand your brand strengths and which you need to leverage.
Cancer Research – Meeting Customer Needs
How brands meet the needs of a market and consumers vary considerably. For charities, the top three values and needs are; Optimism, Organises and Reward. The graphic above shows the score each charity received for the three most important needs.
The illustration below demonstrates the top 5 most impactful needs for each of the six brands (i.e. Cancer Research, British Heart Foundation, Royal British Legion, Comic Relief, Oxfam and Amnesty International).
Overall, Cancer Research is the organisation that best meets customer needs from Charities. However, each brand has a different ‘emotional’ strength – an opportunity for each to harnesst their own emotional positioning. For example:
- Cancer Research and Comic Relief both perform well on Optimism and Informs. (Optimism being the most important for the category).
- British Heart Foundation is strong on Therapeutic (and Durable).
- Royal British Legion is high on Connects, Organises and Belonging.
If you would like to find out more about our research regarding BrandVision's Needs and Values, please use our contact us from below and someone will be in touch.