Question

Topic: Branding

Costs For Brand Research And Testing Surveys

Posted by Anonymous on 3/15/2005 at 2:08 PM ET 125 Points
I'm recommending to my executive management team that we conduct a rebranding campaign for our company. Before I present, I want to have some rough cost estimates on two studies I'm recommending we conduct in the beginning stages of the program. Since my executive management team has not signed off on the project plan, I'm reluctant to start contacting brand management firms until I have a few more details. Can anyone provide me with a range of costs for the following items:
1. Brand Research Study: Contacting clients and prospects to understand their perceptions of my company today.
2. Brand Identity Options: Cost to have a brand firm create two or three brand identity options that we can test.
3. Research Study to Test Brand Identity Options: Contacting clients and prospects to see which brand identity it most inline with our goals for our brand.
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RESPONSES

  • Posted by Carl Crawford on 3/15/2005 at 7:08 PM Member
    There have been a few questions like this in the past. You might want to have a look here:

    https://www.marketingprofs.com/ea/qst_search.asp just limit the search to the branding section.

    But before you rebrand, ask yourself this question:

    Are you willing to sell your old brand to a competitor?

    If the answer is yes then go ahead and rebrand, but if it is no way then why are you rebranding?

    If it is because you feel that it is time for an update, dont rebrand, keep your old brand but tweek the logo, maybe make a few small changes.
  • Posted by mgoodman on 3/15/2005 at 11:24 PM Member
    The way you're asking the question leaves a lot of room for answers (i.e., price estimates) that are all over the lot. It's like asking "How much is dinner?" If you want soup and a sandwich at the local diner, it might be $10 or less. If you want to eat at a fine French restaurant in Paris, it could run hundreds or thousands of dollars (including air fare, if you don't live in Paris!).

    I've been involved in dozens of branding projects, brand audit research, and re-branding discussions. There are probably as many options and prices as there are brands. It depends on your industry, the target audience, your marketing objectives and strategy, the amount of brand equity you currently have, and a zillion other factors.

    If this is really an important issue for you and your company, I'd suggest you consider a real project on the MarketingProfs "Hire and Expert" board. (Click on "Post a Project" in the list at the right side of this page.) It will be well worth your time and money to get the pros working on this question. It's not likely you'll get the kind of answers you need from a quickie response in this forum.

    If you need/want further information/assistance, feel free to contact me by clicking on my userid at the beginning of this response and sending me private email.
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