The Pros & Cons of Brand Naming Research
17 May 2022

A brand name needs to stick in consumers’ minds; it should be unique, memorable, and fit with the product or service image. Name testing can be conducted qualitatively or quantitatively. When a company is at the beginning stage of name development, qualitative research can determine where they begin. This kind of research guides a firm on which areas to focus on regarding naming for a brand.

If the company has a few names already developed, a survey can help narrow down which name most resonates with the consumers. Typically this type of research includes open-ended feedback and a list of criteria to analyze each name. Following the assessments, the target audience often ranks the names by preference. Research can also help discover names that could be offensive or misunderstood. 

Here are some pros and cons to consider when naming a brand: 

The Pros of Brand Naming Research

Connect With Consumers

A brand name should spark emotion in consumers, which draws them toward the product. If the name connects well with the consumers, there is a higher chance that the brand will remain at the top of the target audience’s mind. Brand naming research will help a brand find that perfect name that consumers will love. A good brand name also unifies the brand across all advertising and promotional materials.

Ensure Success

Testing names through survey research helps brands discover which names are winners or losers. Consumers will love some names, but they might associate others with negative attributes that could hurt the brand’s success. Some brand names may be perceived as high quality and memorable, while others may be offended. Brand name research has saved companies from disastrous launches with names that may not resonate with the consumers. A great name may not be right for the product, as consumers may not relate the name to the product. Testing a name before launch decreases the risk of something going wrong.

Eliminating Uh Ohs

While a name may sound good to internal stakeholders, the consumer may have a different perspective. Name testing can ensure that the name is appropriate for the brand. For example, it doesn’t sound too babyish or sexist. Unknowingly, a name may incite another imagery. For example, once when conducting research many years ago, a technology firm wanted to use the name “vistro.” However, many consumers thought it reminded them of food because of the word “bistro.”

The Cons of Brand Naming Research

Takes Time

As with any research, surveying brand names is a process that takes time. It cannot be done overnight. There are many steps, such as developing the questionnaire, administering the survey, analyzing the data, and writing a report. For companies in a time crunch, this is a consideration that must be taken into account.

Added Cost

Another consideration is that research is not free; it costs money for a market research vendor to correctly conduct these exercises. It can be costly to pay for the experience, resources, and time needed to conduct quality, effective research customized to your company. 

Conclusion

Research for brand naming is extremely valuable when launching a new brand. It helps companies find a brand name that will resonate with consumers and lead to the brand’s success. While time and cost must also be considered, the benefits of brand naming research are undoubted.

Interested in reading more in our Pros and Cons series? Check out our other blogs here. 
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Shopping Sustainable Products in 2022
12 May 2022

Evidence of climate change, government regulations, and consumer pressure have brought more sustainable products to the market. Fifty-seven percent of Americans now consider themselves environmentally conscious. However, what is the demand for green products? Are people who consider eco-friendly willing to pay more for sustainable products? In Provoke Insights’ fourth wave of in-house research, we set out to track consumer mindsets, purchasing trends, and how sustainability plays a role.

Who is Buying Sustainably?

Today 43% of Americans are willing to pay more for sustainable products. Interestingly, almost two-fifths (39%) of those who are environmentally conscious are not willing to open up their pockets for green products. Those willing to pay the extra cost are more likely to be vaccinated, optimistic about the future, Democrats, Millennials, and have children.

Inside the Mind of the Sustainable Shopper

While these shoppers tend to be more optimistic about the future, they still worry about COVID. They are more concerned about the economy and the health of themselves and their children are a priority. Additionally, these shoppers prefer to purchase from small businesses. Price is not a major factor in their purchasing decisions.

They Go Online to Find Sustainable Products

Although sustainable shoppers prefer to make purchases online, they rate the in-store experience favorably. They are more satisfied with the cleanliness of stores and customer service than non-sustainable shoppers. However, they tend to find item availability to be lacking since sustainable products are more niche. They are purchasing apparel, beauty supplies, and skincare products. Furthermore, sustainable shoppers are more loyal to their brands than those who are not willing to pay extra for green products. Almost three-fourths (74%) stick to brands they are familiar with.

 

Download the full report for free here.

 

Methodology

Provoke Insights conducted a 15-minute survey in the spring of 2022 among 1,500 Americans between the ages of 21 and 65. A random stratified sample methodology was used to ensure a high degree of representation of the U.S. population (household income, age, gender, geography, ethnicity, and children in the household). Statistical differences between subgroups were tested at a 95% confidence level. The margin of error is +/-2.5%.

The Pros & Cons of Hiring a Market Research Firm
14 Apr 2022

Market research is vital for business growth and expansion. Understanding the market and the consumer helps build brand image and develop effective marketing strategies. To excel beyond the competition, it is essential to be aware of what’s happening in the industry, what’s being said by the public, and how this could impact your brand. However, not all businesses have the expertise or ability to do their own market research, which is why hiring an outside firm can be beneficial. Here are the pros and cons to assess when thinking about hiring a market research firm.

The Pros of Hiring a Market Research Firm

Proven Methods Deliver Highly Accurate, Reliable Results

Market research firms specialize in research, so they have the necessary tools and knowledge to provide your brand with highly accurate, in-depth information. Many researchers have academic training and have worked in the industry for several years. Using their past experiences and data, they can uncover tailored research needs and brainstorm creative solutions. They will know what methodologies to use to craft the most impactful story for your brand launch, strategy shift, or marketing campaigns. 

Less experienced individuals may conduct research that results in inaccurate data.  As a result, their findings may tell an inaccurate story and create an ineffective strategy. 

Unbiased, Third-Party Opinion

Your brand can gain a neutral, unbiased opinion from an outside firm. The firm can provide ideas on research methods and marketing strategies. Since they are not part of your company, they will rely on objective research and expertise to develop unique recommendations tailored specifically to your brand. In addition, consumers may be more open about their opinions and experiences when responding to an independent research company, rather than a brand representative.

Credibility & Engagement

The press loves original research. Hiring a market research firm gives brands original, credible research that can be used to differentiate from the competition and is seen as more trustworthy by viewers. Additionally, content that contains original research generates more website traffic, social shares, and mentions online.

The Cons of Hiring a Market Research Firm

Costly

Hiring a market research firm is not free. It can be costly to pay for the experience, resources, and time to conduct quality, effective research customized to your company.

While it can be expensive, research had proven the ROI.  Research can refine your market strategy, tell you which advertising creative is most effective, and even give you a concise go-to-market plan.

Requires Time

Firms cannot conduct meaningful research overnight. It takes weeks and even months to analyze the results, create a strategy, and execute the plan. Although research plans can be made for a certain timeframe, it is simply not possible to get immediate results, especially when hiring an outside research firm that is conducting research for various clients at once.

Conclusion

Market research is incredibly useful for growing a business, but there are many factors to consider. Hiring a market research firm can be extremely beneficial to gaining an expert, unbiased, and credible view. However, one must keep in mind the limitations of cost and time.

Interested in reading more on market research? Check out our other blogs here. 
Are you interested in our market research capabilities? 
  • Take a look at our research strategies here.
  • Email us at info@provokeinsights.com.
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Coming Soon: Brand Loyalty & Trends In-House Research
14 Apr 2022

We are thrilled to announce Provoke Insights’ newest wave of in-house research on brand loyalty: the Spring 2022 Brand Loyalty & Trends Report. 

In this 4th wave of complimentary research, Provoke Insights surveyed 1,500 Americans between the ages of 21 and 65 to evaluate the purchasing funnel by brand category.  More specifically, this study analyzed what consumers are buying, where they are buying these items (retail channel), and how loyal they are to these brands. Industries include travel, retail, CBD, skincare, restaurants, furniture, produce, alcohol, automobiles, electronics, fitness, outdoor gear, power tools, and toys.

In addition, this research tracks the impact of the pandemic, economy, and trends on consumer behavior.

Our reports are completely free and easy to download. Feel free to use any of our research in your publications. When sourcing our data in publications, please accredit Provoke Insights and hyperlink to our page.

Interested in our last wave of in-house trends research? Check out our quick-to-read blogs here. 

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What’s Happening in Social Media: 2022 Research Results
10 Mar 2022

With the COVID-19 pandemic forcing people to quarantine and social distance, Americans have found other ways to connect. Social media gives users the ability to interact virtually in an increasingly digital age, so it’s no surprise that social media use is prominent among Americans. Let us dive deep into the latest usage habits. We designed Provoke Insights’ third wave of in-house trends research to recognize market trends and consumer habits in 15 different industries, including social media.

Americans Can’t Live Without Social Media, but They Don’t Trust It 

Throughout the pandemic, social media has been extremely popular, as four out of five Americans access it every week. Millennials, Gen Z, those living in urban areas, and moms are significantly more likely to access it frequently. The most widely used platforms are Facebook, closely followed by YouTube and Instagram. 

However, trust in social media is low. Only a third of Americans find the media channel trustworthy.

Massive Growth Except for Linkedin

Most social media platforms saw growth compared to January 2021. Video entertainment apps YouTube and TikTok grew the most, with double-digit increases. Interestingly, Linkedin saw a slight decrease in usage. This change may have to do with the job market stabilizing. 

Who is Using Facebook?

Facebook is the most popular social site among Americans. More than three-fourths of users are checking Facebook daily.  Facebook loyalists are most likely to be moms followed by Baby Boomers, live in rural areas, make under $50,000 per year, and be unvaccinated for COVID-19.

Download the full report for free here.

Methodology

Provoke Insights conducted a 15-minute online survey in autumn of 2021 among 1,504 Americans between the ages of 21 and 65. Provoke Insights uses a random stratified sample methodology to ensure a high degree of representation among the U.S. population. (This includes household income, age, gender, geography, ethnicity, and children living in the household.) Statistical differences between subgroups were tested at a 95% confidence level. The margin of error is +/-2.5%.

Finance Research 2022
24 Feb 2022

There is no doubt that COVID-19 has impacted the economy significantly, as many businesses have struggled with finance, lost money, or had to shut down. But is there still hope in the American economy? Provoke Insights conducted our third wave of in-house trends research, which focuses on discovering market trends and consumer habits in 15 different industries, including finance.

Perceptions of the Economy

Over two-thirds of Americans (70%) are concerned about the economy. However, worry about the economy is down 10% since the beginning of the pandemic. Those who are more likely to be concerned with the pandemic’s economic impact include parents, women, and members of Generation X.

Trust in Financial Institutions

Overall, only a quarter of Americans trust financial institutions. The majority (63%) are neutral, but 9% do not trust them at all. Our data show that the more wealth a person has, the more faith they place in these institutions. Moreover, people with the COVID-19 vaccine place more of their trust in these banks, investment firms, and more.

Who is Investing?

Only one-third of Americans have an investment account, and only one-fifth have traded cryptocurrency. Investors are more likely to be male, have a higher household income, be married, and have children. Furthermore, individuals who invest tend to have an online account, even those with financial advisors.

Are Americans Ready to Retire?

No, they are not! Less than half of Americans have prepared for retirement. Unsurprisingly, people with a higher household income have saved more. Additionally, other groups who tend to have a retirement plan account include those living in the Northeast, Baby Boomers, males, and Republicans.

Download the full report for free here.

Methodology

Provoke Insights conducted a 15-minute online survey in autumn of 2021 among 1,504 Americans between the ages of 21 and 65. Provoke Insights uses a random stratified sample methodology to ensure a high degree of representation among the U.S. population. (This includes household income, age, gender, geography, ethnicity, and children living in the household.) Statistical differences between subgroups were tested at a 95% confidence level. The margin of error is +/-2.5%. 

Fitness Research 2022
22 Feb 2022

The COVID pandemic has generated drastic changes in all aspects of our lives. How has the shift from in-person to virtual impacted Americans’ fitness habits and the ways we exercise? With Provoke Insights’ third wave of in-house trends research, we aimed to recognize consumer trends in 15 different industries, including how people have changed their exercise habits.

Who is Hitting the Gym?

While about 1/5 of Americans say they are working out more (22%), almost 1/4 say they are working out less (24%). Those who are working out more include hybrid workers, Hispanics, and affluent Democrat parents living in cities.  Americans who are exercising less tend to be women, those living in rural areas, unvaccinated, lower-income, and older.

Does Working Out Make Americans Happier?

During COVID-19, optimism and working out appear to correlate with each other. Those who exercised more during the pandemic were happier, as over four-fifths (84%) of those who work out more claim to be moderately/very optimistic. For those who work out less, less than three-fourths (73%) are optimistic. In addition, people who exercise more are often more concerned about COVID-19 impacting their health.

Virtual vs. In-Person Workouts

Has the fitness world gotten the hang of “virtual” instruction? Provoke Insights’ research shows that those who work in a hybrid model most often believe that using video workouts, such as Zoom or the Peloton, is as beneficial as going to a gym. Despite this, over one-fourth of Americans (27%) still believe that working out via video is NOT as beneficial as the gym. Even though many believe working out via video is not as good as going to the gym, only about ¼ (28%) are comfortable working out in brick-and-mortar gyms.

Download the full report for free here.

Methodology

Provoke Insights conducted a 15-minute online survey in autumn of 2021 among 1,504 Americans between the ages of 21 and 65. Provoke Insights uses a random stratified sample methodology to ensure a high degree of representation among the U.S. population. (This includes household income, age, gender, geography, ethnicity, and children living in the household.) Statistical differences between subgroups were tested at a 95% confidence level. The margin of error is +/-2.5%.

Travel Research 2022
16 Feb 2022

How has COVID-19 changed the way Americans think about travel? Although many continue to have concerns about traveling, the majority still plan to visit their friends and family and take vacations, as seen in Provoke Insights’ third wave of in-house trends research. In this research, our goal was to discover habits, trends, and consumer attitudes in 15 different industries, including the travel industry.

Americans Have Travel Concerns

Many Americans (49%) are moderately/extremely concerned about taking a vacation due to COVID-19. Groups who are more worried about traveling include those who are Black (62%), Democrats (60%), and vaccinated (52%). In addition, older Americans, such as those in Gen X and Baby Boomers, are significantly more likely to not be traveling.

Why are People Traveling?

Among those who are traveling, half plan to travel to visit friends or family (50%) or for leisure (48%). Business travel is much less popular, with only 13% of professionals planning to travel for business. These individuals tend to be vaccinated, are older, and have higher household incomes. Almost one-third (28%) of Americans plan to not travel at all. Those likelier to not travel include those who are less wealthy, live in rural areas, and older Americans.

Travel Patterns

People are often avoiding airplanes. Traveling by car is the most likely travel method for Americans who are visiting friends and family (69%) or taking leisure vacations (55%). However, Americans traveling for business are mostly traveling via airplane (63%) and staying in hotels (79%).

Download the full report for free here.

Methodology

Provoke Insights conducted a 15-minute online survey in autumn of 2021 among 1,504 Americans between the ages of 21 and 65. Provoke Insights uses a random stratified sample methodology to ensure a high degree of representation among the U.S. population. (This includes household income, age, gender, geography, ethnicity, and children living in the household.) Statistical differences between subgroups were tested at a 95% confidence level. The margin of error is +/-2.5%. 

Valentine’s Day Research 2022
10 Feb 2022

What are you buying your special someone this year? A new necklace? Maybe a watch? On the other hand, perhaps you are looking for a reservation at a local restaurant. In fall 2021, Provoke Insights launched a new wave of our bi-annual study to help brands understand consumer purchasing habits and trends that impact their industry. The goal of this research was to gain a national perspective on the mindset of consumers. In total, we released 15 separate industry reports. In the spirit of Valentine’s Day, here are some insights into the retail, jewelry, and restaurant industries.

In-person shopping is back

Apprehension for in-person shopping has significantly decreased since the beginning of the pandemic, as more than half of Americans have little-to-no concern about visiting stores. Despite this, a quarter of consumers still prefer shopping online. While consumers have been impressed with cleanliness since returning to stores, they have been disappointed with product availability.

Jewelry is on the rise

Both jewelry and watch purchases are slightly up from early 2021. This holds true even as women report wearing less jewelry than they did pre-COVID. In addition, Americans as a whole are still dressing more casually. Is jewelry really what your special someone is looking for this Valentine’s Day? Most often, it is affluent customers that are making these luxury purchases, as they are willing to pay for sustainably sourced products or to stay on top of trends.

Order up!….with your phone

During the COVID-19 pandemic, many restaurants integrated new technologies to provide a cleaner and safer environment for customers. Overall, paying at the table is seen as a much better restaurant experience for patrons. However, Americans have mixed views about accessing menus via QR codes. These new tableside tech additions are more popular among younger, and probably more tech-savvy consumers.

Download the full reports for free here.

Methodology

Provoke Insights conducted a 15-minute online survey in autumn of 2021 among 1,504 Americans between the ages of 21 and 65. Provoke Insights uses a random stratified sample methodology to ensure a high degree of representation among the U.S. population. (This includes household income, age, gender, geography, ethnicity, and children living in the household.) Statistical differences between subgroups were tested at a 95% confidence level. The margin of error is +/-2.5%. 

Alcohol Research 2022
10 Feb 2022

Due to the COVID-19 pandemic, some Americans have been staying in more and going out less. The unpredictability of the coronavirus has many divided over whether they raise their glasses at restaurants, in small gatherings, or via Zoom happy hours. As we continue into the third year of the pandemic, how have American alcohol purchases changed? In Provoke Insights’ third wave of in-house trends research, we set out to track habits, trends, and consumer attitudes in 15 different industries, including the alcohol industry.

People are Purchasing More Alcohol

Despite the pandemic, more and more consumers are returning to bars and restaurants, and alcohol purchases have been increasing. Compared to January 2021, beer purchases among Americans have gone up 13% and liquor purchases 9%. Wine purchases grew the least, with a 3% increase. It is also interesting to note that about half of Americans purchased beer (52%) and liquor (44%), while only about one-third purchased wine.

Who is Purchasing Alcohol Products?

Almost two-thirds (63%) of beer purchases are male. They are also more likely to have kids, have a household income of $100k+, and be Millennials. Liquor purchasers also tend to be male and have kids, but they usually live in cities and are Democrats. Wine purchasers are more likely to have a household income of $100k+, live in cities, and have kids. They also tend to live in the Northeast and be Millennials. Surprisingly, the only characteristic that is shared among different alcohol purchasers is the likelihood of having kids.

Concern About the Economy

Overall, a majority of Americans (70%) are concerned about the economy. Although wine purchasers make up a smaller percentage and are wealthier, they tend to be more fearful about the economy. Three-fourths (74%) of wine purchasers are moderately/extremely concerned about the economy, compared to 70% of beer buyers and 69% of liquor purchasers.

Download the full report for free here.

Methodology

Provoke Insights conducted a 15-minute online survey in autumn of 2021 among 1,504 Americans between the ages of 21 and 65. Provoke Insights uses a random stratified sample methodology to ensure a high degree of representation among the U.S. population. (This includes household income, age, gender, geography, ethnicity, and children living in the household.) Statistical differences between subgroups were tested at a 95% confidence level. The margin of error is +/-2.5%.