Market Research Study
A large nationally known farming equipment manufacturer who has engaged NBRI for over a decade to conduct their employee and customer surveys wanted to know if they could leverage their brand image to related products that were manufactured by other suppliers. Could they buy, rebrand, and then resell these products at a premium? Would consumers equate brand trust and their existing support infrastructure with higher value? If so, how much higher value?
NBRI designed a Market Research Survey, customized for the client. The survey was deployed world-wide in 10 languages via an online methodology. Enough responses were collected to insure a 99% confidence level in the results. NBRI psychologists and statisticians then analyzed and reported on the research study.
The results of the study indicated that the client could leverage the trust of their brand and their existing support infrastructure to resell other products at a significant premium. But, that this marketing strategy would only be effective in the United States. Per NBRI recommendations, the client scratched their world-wide marketing plan, concentrated only on the United States and the revenue began to flow. The client’s new marketing plan was successful and potentially poor financial results in the rest of the world were avoided.