Despite COVID, Brands Still Need Consumer Research to Know Where They Stand

Brands have been facing uncertainties since the start of the COVID-19 pandemic; and for many of them, this has led to tightening budgets, primarily spending less on advertising. More than likely, those brands lost some ground in brand equity and are probably facing a decline in brand awareness.

And, as we all know, a decline in awareness is never good for sales.

In August, Nielsen and many other outlets cited an uptick in U.S. advertising, signaling to companies that the time had come to reinvigorate brand awareness. But as we face the “second wave” of COVID and brands return to tighter budgets, leaving limited funds available for advertising and especially for market research, a traditional attitude & usage study which would provide insights into their category and brand standing may not be in the cards for them. An A&U would help answer the following questions in the current landscape:

1. What was the marketplace impact of these cuts in ad spending that most brands instituted during March and August of this year?
2. How do brands continue to keep a pulse on the marketplace, and where they stand vis a vis their competition?
3. How do they determine the right balance of awareness and activation (promotional) strategies, given a limited budget for research? 

If you would like help with a custom research project to conduct your next A&U, you can contact us here.