Marketing Research and Marketing Branding Equity in the Digital Age

Marketing research, marketing branding equity, and the new advances in the digital age have become part of a triad. This is a system that arguably has shaped the way we function as a societal system. It can be argued that the digital age has influenced society and organizations (and the way they operate on a small and large scale) in ways never imagined. While marketing research techniques remain at the core of common practices in business, and the marketing field in particular, researchers cannot underscore the effect that the digital age has on research as an enabler to achieving marketing brand equity and competitive advantage in today’s complex marketing environment.

Marketing research (as a science) has evolved over time (despite its deep roots in sound research methodologies). Part of this evolution and transformation can be attributed to new innovative processes and techniques that have been adapted to meet the needs and requirements posed by new technologies and research applications available in the market. As such, marketing professionals need to understand the landscape of new requirements and advances and respond to these changes with knowledge and expertise that can only be fomented with experience gained in practice and in a classroom setting. In addition, now more than ever it is paramount that marketing researchers create a system through which knowledge is exchanged, expanded, and validated to ensure every company is afforded the opportunity to not only compete but to also promote creativity and delivery of high-end products and services that keep up with the new technological advances. The end result should aim to meet the ever-changing needs of consumers.

The Importance of Marketing Research

Marketing research is the cornerstone of any marketing effort. Marketing branding is no exception. Building impactful marketing branding equity that drives positive results relies on the premise of the application of sound research practices and applications. For companies to reach the highest levels (in terms of identity and brand awareness), they must continually engage in research techniques that yield positive and lasting results. Because lasting positive results are at the heart of marketing branding equity, it is incumbent upon marketing researchers to be innovative and visionaries. This means thinking outside the box and trying new principles, techniques, and technologies that will respond to the goals and objectives of the company while staying ahead of the competition.

Marketing Brand Equity: Does it Really Matter?

Marketing brand equity is characterized as the value an organization achieves when its products and services become a recognizable name when compared to similar products and services offered by other competitors. It is through this branding paradigm that organizations are able and capable of becoming top contenders in their offerings and craft. Hence, it goes without saying that to achieve this level of excellence and influence a company must apply proven marketing and branding techniques that can be integrated with new technologies and the needs of target populations. The companies that reach this level will remain relevant over the years if they understand and utilize these principles as part of their survival methods and strategies. Ultimately, the quest for meeting the demands of consumers while adhering to these new technological and scientific frontiers relies on investing in the best resources (talent-wise and technology-wise) to continue to deliver the best products and services in the market.

Relationship Between Marketing Research and Marketing Brand Equity

Sound and innovative marketing research techniques lead to positive marketing brand equity. In practice, this equates to dominating a segment of the population as intended in an organization’s business and marketing strategies. Therefore, it can be inferred that sound marketing research practices and techniques result in value-added and recognition of the organization's identity when there is an alignment between research and technology.

Marketing Research, Marketing Brand Equity, and the Digital Evolution

The digital revolution will continue to evolve at a very rapid pace. Organizations that invest in keeping up with these changes will always be at the top of the pyramid. Technological advances (e.g. artificial intelligence) will continue to disrupt and change/influence the way organizations make business decisions. Organizations that wish to remain on top and continue to be influencers will experience the need to invest in programs and initiatives that integrate marketing research, marketing brand equity, and digital innovations.

What is Next?

The world we live in will continue on an evolutionary path that has no limits and/or boundaries. Every aspect and facet of the human condition and existence will experience changes and will be forced to make decisions at a moment’s notice to prevent sudden extinction. This principle applies to organizations and businesses on many levels. The first step for an organization that wants to continue operations and be recognized locally, nationally, and globally is to apply the laws of evolution. Secondly, companies must be aware and sensitive to the changes that are affecting the human psyche. Third, companies need to become beacons of hope and inspiration as society becomes more dependent on technology and social media. Fourth, organizations must continue to invest in new research so as to not become stagnant and obsolete. Fifth, agile technology and research methods must be integrated to discover and uncover solutions and methods that can be applied to future generational needs. Sixth, academia needs to develop programs that continue to align and answer the current and future needs of organizations and society. Lastly, organizations need to understand and embrace the notion that in terms of this new digital environment, there is a need to build brands that are relevant to existing and new generations. As the old philosophers postulated, only “the sky is the limit”.