A DRIVER ANALYSIS IS AN IMPERATIVE TOOL, WHICH ALLOWS US TO IDENTIFY WHAT FEATURES AND ASPECTS HAVE THE BIGGEST IMPACT ON A SPECIFIC OUTCOME, SUCH AS WILLINGNESS TO BUY.
To get the most out of a customer segmentation it is crucial to get at deeper understanding of the actual people in each segment. A part of the learning process could be (among other things) to learn more about what drives the consumers purchases in your category and what stops them from purchasing.
To do this, a category driver analysis is an imperative tool, which allows you to identify what features or aspects that have the biggest impact on an outcome variable such as willingness to buy. What is the most important element for the consumers purchase decision? Is the image of the brand more important than the product it self? Is the price more important? 10-20 of those different questions are asked followed by a multiple regression analysis to determine the biggest impacts.
A driver analysis can be made for both a category or for specific brands. The brand driver analysis is obviously more demanding for respondents and puts the overall length of the survey under pressure because the respondents will have to value the different drivers for each brand. However, It’s A Fact has a distinct approach where different brand performance metrics (cf. section 2.3) are combined with a category driver analysis to determine how the different drivers relate to specific brands without asking directly. This approach allows us to do an assessment of key brands and their strengths within the category.
The brand funnel is one of the most used market research methodologies throughout times – and it is to this day still one of the simplest yet effective ways to determine a brands performance among the consumers. In it’s core it maps the strength and weakness of the consumers’ purchase journey from awareness to loyalty compared to key competitors. On top of this, brand funnel is a universal methodology where numbers can be directly compared across markets and countries.