Synovate spots brand barriers

The Brand Value Creator (BVC), a research system from London, UK-based Synovate, might be able to help pinpoint the problem. And, once the weak spots are identified, the BVC can use predictive modelling to help determine where to invest and the potential ROI. Synovate describes the BVC as including 'a suite of software simulation tools that assess the impact of various marketing scenarios.'

The Brand Value Creator (BVC), a research system from London, UK-based Synovate, might be able to help pinpoint the problem. And, once the weak spots are identified, the BVC can use predictive modelling to help determine where to invest and the potential ROI. Synovate describes the BVC as including ‘a suite of software simulation tools that assess the impact of various marketing scenarios.’

‘You can’t go on and on creating equity without looking at barriers,’ says Adrian Chedore, Synovate’s Hong Kong-based global CEO. ‘When we’re doing global studies of equity, the issue is that the value of the equity is relative to barriers.’

Synovate recently conducted an uncommissioned study of Canada’s mobile phone industry to demonstrate how the BVC works. The results indicated that 7% of Canadian cell phone users are ‘strongly attracted’ to the Virgin brand, but aren’t Virgin customers because of barriers like being locked into long-term plans with competitors, as well as not knowing where to buy Virgin phones. Conversely, 13% of Bell users have negative feelings towards the brand, but continue using it out of convenience.

‘Virgin has a big opportunity there,’ says Rob Myers, managing director of Toronto-based Synovate Canada, adding that the BVC model can pinpoint perceived barriers that companies should address to take advantage of its attitudinal equity. ‘[Virgin could] get a full ROI because they’ll know what they would get back if they invested in stores.’

Adds Chedore: ‘[The BVC] is actually quite predictive because you can say, ‘What if you reduce this barrier? Reducing these barriers will affect these individuals.’ It becomes, from an ROI perspective, a powerful tool.’

Synovate has access to a market research pool of 400,000 Canadians. Its clients include Canadian Tire, Sears, Unilever and McDonalds. www.synovate.com.