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Data Analytics Discussion 3

DATA ANALYTICS 4

Data Analytics

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Discussion 3

Brand share is the proportion of a company’s brand sales within a market. The company brand shares information with the market size and Industry forecasts for a company to be able to make effective decisions. The brand owner no the health of their brands but needs to compare this information with their competitors’ performance. Using data and building strategy, the company can evaluate its behavior over time and determine the growth or decline in the performance (Lou & Xie, 2021). The purpose of company and brand sharing information is to ensure an overview of the competitive landscape for different categories of products. It helps to identify the industry leader and the strong player in other companies who have affected the brand performance.

Audience analysis is crucial because it allows the brand to understand the current and potential customers and improve its marketing strategies. It also helps the organization understand the customer experience and brand perception. Audience analysis should thus enhance the company’s performance because it provides the audience interest, the factors that influence their decisions, and the overall perception they have about a brand (Lopes et al., 2022). In digital brand analysis, audience analysis is essential because it helps to collect insights into the views and opinions of the customers and make the right decisions.

Brand and alignment in the company is an essential and Powerful tool that helps enhance customer traction and retention (Swaminathan et al., 2020). Brand alignment in digital brand analysis is essential because it helps improve communication and brand performance metrics.

References

Lopes, A. R., Porto, I. P. A. M., & Casais, B. (2022). Digital Content Marketing: Conceptual Review and Recommendations for Practitioners. Academy of Strategic Management Journal21(2), 1-17. https://www.researchgate.net/profile/Beatriz-Casais/publication/357746605_Digital_Content_Marketing_Conceptual_Review_and_Recommendations_for_Practitioners/links/61dd81d7034dda1b9eeda0be/Digital-Content-Marketing-Conceptual-Review-and-Recommendations-for-Practitioners.pdf

Lou, C., & Xie, Q. (2021). Something social, something entertaining? How digital content marketing augments consumer experience and brand loyalty. International Journal of Advertising40(3), 376-402. https://www.tandfonline.com/doi/abs/10.1080/02650487.2020.1788311

Swaminathan, V., Sorescu, A., Steenkamp, J. B. E., O’Guinn, T. C. G., & Schmitt, B. (2020). Branding in a hyperconnected world: Refocusing theories and rethinking boundaries. Journal of Marketing84(2), 24-46. https://journals.sagepub.com/doi/abs/10.1177/0022242919899905

 

Last Updated on August 14, 2022

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