Brand Attribute Competitive Assessments are used to understand how your brand and competitive brands are viewed across a series of differentiating features or attributes. The benefit of using a brand attribute competitive assessment is its ability to show how strongly respondents associate your brand with a particular attribute compared to other brands. Brand Attribute Competitive Assessments allow you to quantity your strengths, weaknesses, and strategic differentiators.
Here’s how it works:
The data to generate Brand Attribute Competitive Assessments are best collected through a survey. The attribute association question is typically written as follows: “How strongly do you associate each of the following companies with a [attribute].” The respondent then use a 3-point scale (“do not associate”, “somewhat associate”, and “strongly associate”) to indicate how closely they associate a particular product attribute/feature with each company.
The attribute association question is repeated for each attribute being tested and the order is randomized to ensure there is no response bias. Attributes can be of almost any variety; for example, they could be standard dosing, efficacy, or safety attributes, or they could include, functionality and features of a medical software solution, brand perceptions, design of a novel device, etc.
The Brand Attribute Competitive Assessment is informed by two additional question types: familiarity and attribute importance ranking. To ensure the best possible data, respondents should be first asked if they are familiar with your brand and competitive brands. Respondents are then only asked to associate attributes to brands with which they are familiar. Secondly, an attribute ranking question is asked so that MedPanel can assess the relative importance of each attribute to the target consumer. These rankings are used to inform the order that the attributes are displayed on the Brand Attribute Competitive Assessment chart (shown below).
This example Brand Attribute Competitive Assessments graphic depicts how strongly associated each brand is to the attributes about medical software. Each brand is mapped against each attribute. There are two main ways to interpret the graph. The first is to compare brands’ performance on a single attribute to see which brands have the strongest and weakest associations to understand your brand’s ranking within the competitive landscape. The second form of analysis is to assess a single brand’s performance across all attributes to understand how the brand performs on the most important to least important attributes, and to identify unique differentiators and value propositions versus competitors. These two interpretation methods combined should be used to understand the strengths, weaknesses, and strategic differentiators of a brand.
In the example shown above, we can see the brand most associated with all attributes is Brand 7. Brand 7 is most strongly associated with the most important attribute, strong customer service, while Brand 3 and Brand 4 are the least associated with strong customer service. Brand 7’s strongest differentiators are its positive brand reputation and peer recommendations; it breaks the farthest from the pack on these attributes. Its closest competitor in positive brand perception is Brand 6, with the majority of the brands clustered together with weaker associations to the tested attributes.