The ranking of the world’s top 100 brands continues to provide us with new and impressive insight each year. Brands are the most valuable asset for many companies.
Successful brands become part of consumers’ daily lives, are reflected in their opinions, convictions, and images of themselves and the world. Comprehensive understanding of these customer perceptions is essential for successful brand management. Only when the impressions and images that drive brand equity are identified and continually monitored, can a company strategically position its brand and continue to develop its value.
We provide you with a comprehensive repertoire of quantitative and qualitative methods and instruments to analyze and understand brands in a holistic way. FactWorks is a pioneer in the use of structural equation models to quantify how brand imagery influences purchasing behavior and brand equity. We can point to numerous successful brand-tracking studies that investigated up to 12 countries simultaneously.
Our core competencies in brand management are:
• Brand equity and measurement of brand image awareness
• Analysis of brand equity drivers
• Tracking of brand equity and image awareness
• Brand/funnel analyses
We provide you with consulting not only on issues of brand equity management, but also in the areas of brand architecture and future brand expansion.
Customer relationship management, the careful building and fostering of long-term customer relationships, is one of the key activities in marketing today.
Its goal is to create a positive customer experience along all the touch points at which the customer is engaged, in order to achieve a high level of satisfaction, and, ideally, an emotional bond with the company. Satisfied customers become loyal customers or even enthusiastic ambassadors for a brand or product. This can be achieved by better understanding the main drivers of satisfaction and loyalty. The better you understand your customers’ expectations at various touch points and their current evaluation of these, the better chance your company has to take the most appropriate measures at each stage of the customer cycle.
FactWorks offers comprehensive experience in the modeling of customer relationships. Our innovative methods and solution-sets for all aspects of customer management have been presented at international conferences and published in scientific journals. Equipped with this expertise, we identify the relevant drivers of customer satisfaction and loyalty, support you in the implementation of the Net Promoter Score (NPS), and develop effective measures to prevent customer churn. One of our core competencies in this service area is the ability to manage large scale multinational studies – for example in more than 100 countries simultaneously.
The development of new products and services is vital to a company’s survival, yet it presents one of the most cost-intensive and high-risk initiatives a company must face.
The investment of millions in R&D is typically accompanied by massive uncertainties as to whether the investment will translate into sales and profitability, and the danger of failure in the market is high. With an Open Innovation Strategy, companies integrate consumers to a much greater degree into the product development process. Web 2.0, with social media and online customer communities, offers product developers new opportunities, and they can expand on “classic” methods for (new) product research, such as conjoint analyses.
FactWorks supports you in all phases of new product development – from concept to prototype evaluation, and on through to market delivery. You profit from our dual qualification as quantitative and qualitative market researchers. We deliver on both sides of the equation: We build your online customer community and assume responsibility for its management, as well as act as your expert partner in co-creation, and all market research processes during the product development phase. Among our core competencies are conjoint and discrete choice analyses. Whether it’s an adaptive or menu-based conjoint , we’ve mastered all the variants, and we’re developing market simulators that enable us to measure diverse product concepts. We deliver the findings that you need to make your product ideas a success.
Pricing policy is the single most important instrument in the marketing mix, because pricing decisions directly impact sales and profits.
Still, the importance of price optimization is often given short shrift. Many companies assign prices based on simple surcharge calculations, or rely on their intuition rather than well-founded analytics. The result: suboptimal pricing decisions that make the company miss out on potential profit.
We at FactWorks pride ourselves with being price research experts. We understand all the variants of conjoint and discrete choice analyses that are central to pricing research – from the classic to the most modern, such as ACBC and MBC – and also developed our own proprietary software. Armed with this expertise, we are the ideal partner for pricing research questions of all kinds. We’ll develop your optimal pricing model based with respect to pricing components, price levels, and bundle offers, and derive the appropriate pricing strategy.
Customers are diverse: They differ in their purchase motivations, needs, and product expectations.
Strong marketing segmentation enables companies to better understand the heterogeneity of their markets, to identify promising target groups, and to create a marketing mix that speaks specifically to consumers within those differentiated groups. Market segmentation is among the most elementary market research projects, since it’s the foundation on which a company builds its marketing strategy.
FactWorks offers the most important elements for successful segmentation projects. Our experts have excellent knowledge of markets and customers from the most diverse industries. We have mastered the newest statistical processes, such as the latent class model, and have executed a wide range of segmentation projects. As qualitative and quantitative market researchers, we guide and support you throughout the segmentation process – from hypothesis development, to the final segmentation, and on through the implementation planning.
The result? A robust and practical customer segmentation that constitutes a real competitive advantage for your company.
Usage and attitude studies establish a basic understanding of the market structure, competitive landscape and customer behaviour and needs.
These are important fundamental research studies: Qualitative and quantitative methods are used to ascertain the needs of product users (and nonusers), how they use the product, as well as their attitudes toward your products and those of your competitors. They also identify market gaps and market trends.
Who uses which product, how, when, and in what context? What are the needs and motives of those who use it? Who doesn’t use this product, and why? What barriers inhibit potential users and how do you remove them? We offer clear answers to each of these questions. The results of our U&A studies will give you a better understanding of your those who are your customers and those who aren’t, enabling you to turn your market opportunities into competitive advantages. Depending on your knowledge base and specific requirements, we’ll conduct qualitative preliminary studies and carry out quantitative studies based on the results. U&A studies can also be used to frame more precise questions prior to implementing studies of product development and positioning. This guarantees that none of your questions are left unanswered!
In the digital age, companies are generating more and more data about customers and internal processes.
The challenge here is how to take all this data and transform it into information relevant to decision-making, which will optimize business processes and achieve competitive advantages. Many companies use only a small portion of the treasure trove of data stored within their own databases, which prevents the identification of process-optimization and cost-cutting opportunities, undermining budgets and thwarting potential profits.
Using the most modern statistical processes and armed with extensive data and marketing expertise, our data-mining team uncovers relationships, trends, and behavioral patterns contained within your data. We specifically provide support in the area of churn management, in selecting your target groups for advertising campaigns, conducting customer segmentation, and eventually transform your data into competitive advantages. Whenever possible, our specialists link primary data with internal company data to provide integrated answers to key project questions. Internal customer data is critical because it reveals actual customer behavior and extends the primary data, enabling us to draw accurate conclusions.
|FactWorks GmbH||Phone: (0 30) 52 68 04 55 - 0|
|EUREF-Campus 10-11||Fax: (0 30) 52 68 04 55 - 66|
|10829 Berlin||Email: info@FactWorks.com|
|FactWorks LLC||Phone: +1 650 242 4439|
|777 Mariners Island Boulevard||Email: email@example.com|
|San Mateo, CA 94404|
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