This Exciting Research Will Show You How to Correctly Position Your Business in 2023

If a company's services differ from the needs of its intended customer base, corporate performance may suffer dramatically. Therefore to ensure strong sales and attract their target customers, businesses must deliver the right product to the appropriate audience.

However, how you present the products is also important because your company can be hindered from reaching its full potential if you give your brand or service a tone that doesn’t resonate with your target market.

This issue is easily preventable if businesses conduct thorough market research. But, the sad truth is that many business owners fail to do this because they can’t afford the high cost of market research.

For this purpose, we carried out this in-depth study to aid you by giving you a clear image of how customers react to companies that employ either a modern and innovative brand tone or a traditional and historical one.

What Was the Reason for This Investigation?

Image Source: Pexels

We were interested in learning which companies different clients chose and how age variations affect those choices.

All business owners should be aware that to increase the likelihood that their companies will succeed, they would have to find cute business names, brandable domains, identity, and other branding components of their venture with the expectations of their target market.

And using the findings of this study, you can speed up the process by determining which branding initiatives will have the most effect on your target market.

To further our study's goal, we surveyed American customers to find out if they preferred doing business with companies that used classic and recognizable brand tones or those who went for new and inventive tones.

What is the Importance of This Study?

Be aware that choosing the ideal brand positioning strategy is one of the most important choices you, as a business owner, would make when starting or rebranding your company. It significantly impacts how customers interact with and perceive your company's personality, so you shouldn't take it lightly.

However,  before you start developing a brand positioning plan, you must first think about your target market and the brands they’re most attracted to. Not everyone is drawn to the same kind of brand, so no one brand positioning strategy will appeal to everyone.

However, if you don't choose the right approach for your brand to take in order to appeal to its target market, your company won't connect with its core clientele, and rivals will quickly surpass and overshadow your business.

In essence, thorough market research is essential for brand positioning, which is one of your company's most important features.

Now let's look at the results of our investigation.

These are the Primary Findings of Our Survey

We separated the data we gathered into numerous age categories in order to make our findings clearer. The survey's result wasn't astonishing, but the responses we received were interesting nonetheless.

The outcomes from the 301 respondents are as follows:

  • Our study shows that firms with a current and modern tone are considerably more likely to attract younger customers between the ages of 25 to 34.

Courtesy: Squadhelp

  • Customers between the ages of 35 and 45 are equally favorable to contemporary and cutting-edge companies. It is evident that both traditional and cutting-edge businesses will appeal to this demographic, given how closely the results match one another.

Courtesy: Squadhelp

  • The study finds that consumers between 45 and 54 choose reputable, established brands.

Courtesy: Squadhelp

  • Historically significant enterprises are highly popular with customers between the ages of 55 and 65.

Courtesy: Squadhelp

  • According to our poll, men don't appear to have a clear preference for traditional or modern businesses.

Courtesy: Squadhelp

  • But women, on the other hand, prefer well-known, long-standing businesses over new, creative start-ups.

Courtesy: Squadhelp

  • 143 of the 301 respondents preferred brand-new, cutting-edge businesses, while 158 went with established, traditional ones.

Courtesy: Squadhelp

Determine which age group your target market belongs to and use a tone that appeals to their tastes in order to make the most of the information from this survey.

Maintain a Uniform Tone

Building a solid brand image for your company will require a lot of your time, knowledge, and work. Consider the survey results when developing your brand image, company strategy, and marketing plans.

Once you've established the ideal tone for your company, stick with it for the long haul because, if you do, your brand will become recognizable and enjoy a positive reputation in the marketplace.

Grant Polachek is the head of branding for Squadhelp.com, 3X Inc 5000 startup and disruptive naming agency. Squadhelp has reviewed more than 1 million names and curated a collection of the best available names on the web today. We are also the world's leading crowdsource naming platform, supporting clients from early-stage startups to Fortune 500 companies.

*Featured Image Source: Pexels

 

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