Wrays multi-faceted brand research model takes into account up-to-date, contemporary thinking and research of:
- Brand Equity
- Customer Satisfaction
- Commitment & Loyalty
- Market Segmentation
- Pricing Research
- Stakeholder Research
- Community Opinion Research
- New Product Development
- Market Forecasting
- Advertising Research
- Business to Business Research.
Organisations need to understand and build upon customer loyalty because:
- Highly satisfied customers become loyal customers!
- Even 5% increase in customer loyalty can boost profits between 25% and 85% (Source: Harvard University)
- Costs 5 - 10 times more to acquire a new customer over retaining your existing ones.
- Committed loyal customers are less likely to be price affected or motivated (recognise value in your service offering and pay that price premium).
- Highly satisfied customers are eight times more likely to buy from you again and more likely to recommend your business.
Your cannot afford to lose customers; they represent growth. Email one of our Wrays Brand Culture team
about any of these valuable Market Research services:
Wrays brand equity model is based on current brand psychology and decision-making knowledge. Emotions exhibit a significant influence on decision making; the higher the risk the more influence emotions (brands) play.