Wools of New Zealand gauges its brand value
The Brandware Group, an independent brand research and development firm, recently conducted a study for Wools of New Zealand to measure the value of its brand at consumer and retailer levels.
Participants in the study were randomly split into two groups. One group was shown carpet ads containing the Wools of New Zealand brand logo, while the other was shown the same ads without the logo. Both groups were asked questions to determine if products carrying the company logo held greater value.
According to the company, the responses suggest consumers are 10% more likely to consider purchasing products that feature the Wools of New Zealand brand. Also, according to the survey, consumers who see the Wools of New Zealand logo are 44% more likely to recognize that the product is made of wool.
The company also surveyed 26 retailers using similar methods. The study found that company retailer partners hold extremely positive perceptions of the Wools of New Zealand brand.