Brand Capital Research Methodology
Each year before we even send out questionnaires, our team thinks about topics, categories, brands and everything else that the research questionnaire should contain. Each year we build on the previous year.
In the research we cover brand relationships via question: For each of the brands listed below, please, indicate how likely you would use it in your next usage occasion? That lets us identify lovers, friends, acquaintances, deniers and strangers. This also is the base for our rankings - it answers the question which are the most loved brands. Wit Consulting team decides which brands should be included in the research. The brands included vary from category leaders to newcomers.
Question: For each of the brands listed below, please, indicate how likely you would buy it on your next buying occasion.
- Lovers - Definitely would use it, and that is one of my favorite brands.
- Friends - Definitely would use
- Acquaintances - Maybe would use
- Deniers - Knows the brand, but definitely would not use
- Strangers - Never heard of the brand
We also dive deep into five brand atributues which we determine with yes/no question. That's how we get the proportion of the population who agree with a particular brand statement. As a result we have our ranking of the greenest, most humane, most searched and other categories.
Brand attributes are determined with yes/no questions. % = the proportion of the population who agree with a particular brand statement.
- Bravery - Is this brand brave and different in communication
- Quality - Is this brand of high-quality
- Value-for-money - Is this brand of good value for money
- Greenness - Is this brand environmentally friendly
- Humanness - Is this brand socially responsible (cares about society)
- Users - Currently, use a product from this brand in this category
Our research holds lots of capabilities when it comes to understanding people. We ask not only questions about brands, but we also gather information on demographics, lifestyle and media. That lets us understand attitudes and beliefs, values, shopping habits, activities, interests, hobbies and much more. Our team revises these questions each year as well - including hot and trending topics that allow brands to be more relevant.
It's all fun and games, but it means nothing without getting responses. The data collecting is done by Norstat Latvija which is one of the leading data collectors for market research in Europe. In the Brand Capital research, we surveyed 1000 economically active citizens of the Baltic states aged from 15 to 74 from June to July of 2023. The research covers more than 500 brands and more than 350 lifestyle questions. Research is done online, using Brand CapitalTM methodology.
Want to find out more?
If you want to receive a more detailed analysis from the Best Loved Brands Chart, its audience characteristics, or the competitors, please contact the experts at Wit Consulting. Please contact lelde.dalmane@witconsulting.lv or rihards.ginters@witconsulting.lv
