Is Sports Research A Good Brand latest 2023

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The Value of Market Research

In 2005, I was determined to test the effectiveness of my new brand name through a professional market research company. Knowing how much I believed in it wasn’t enough; I had to know what objective consumers would think of it when seeing it for the first time. At that time, my brand name was approved in the United States and filed or registered in over thirty foreign countries. The name was as legally protected as it could have been in so many countries thanks to my global view of this remarkable name. However, would it grab the consumer’s attention or, more importantly, their wallet? Here is a case study of my real-world market research experiences.

In 2005, I had already created a new product brand name and needed to know how to better reach my target audience. So I contracted with two companies: one a web developer to create an informational website and the second was a market research company. The objective was to publicize my new brand name.

While the product website was under construction, we started by developing an online survey. This survey was rolled out nationwide to get the widest possible response from consumers. Some of the interesting highlights that the survey revealed were:

64% of respondents were open and receptive to the new brand name – This was important to me because it meant people liked the name.

The three product categories most likely to associate the brand name were:
a) safety and first aid products;
(b) personal health/hygiene products, and
(c) over-the-counter pharmaceuticals.

More than 50% of respondents chose the brand name to appear on bandages, joint pain ointments, sports/energy drinks, and cold/allergy relief medications.

They even provided nine descriptive terms that consumers chose:
Healing
Comforting
Support
Safe
Reassuring
Reliable
soothing
Secured
Safe

These adjectives from our market research are connotations that most manufacturers would like to see associated with their product name!

Why was it important to determine the adjectives? Because these connotations became the keywords we used in the creation of all marketing materials. We wanted to use words that resonated with consumers.

Based on the market research results, we created a PowerPoint slideshow to illustrate how consumers interact with the brand name. This was effective because it combined visuals – including graphics to illustrate product parameters with the powerful marketing words that resonated with consumers. This PowerPoint also served as great simple “point and click” visuals on the website. Marketing results were captured in a quick fact sheet that website visitors could download and view at their convenience.

The most heartening result of my investment in market research was that the survey supported my theory that this remarkable name was a “positive brand name strongly associated with multiple product categories.” Was it worth investing in market research? Yes, because it gave me insight into the minds of my consumers as well as valuable wording for future marketing efforts in print, online, and presentations. It also saved me money by investing in flyers and an online website presence that would connect me with my potential clients.

I highly recommend that if you are an inventor, make sure you set aside some money for independent market research on your product idea as well as your product name. You’ll be glad you did!

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