Understanding the factors that make a brand a ‘favourite brand’
Client: A global fast food restaurant chain
The client intended to find the performance attributes driving the “Favourite brand” of the category where the population is more heterogeneous.
Since the population was heterogeneous in nature, merely aggregating the data and deriving the set of drivers (factors driving the brand’s success) would not have been effective. Hence, we had to look at drivers within homogeneous groups. Using this technique would have allowed the client draw out different action plans for each segment.
For the analysis, we used the Latent Class Regression approach, in which, we first segmented the population based on various characteristics (demographic, socio-graphic, etc.) and then, determined the drivers that contributed to the brand featuring as the ‘Favourite Brand’.
The analysis helped the client gauge the drivers that worked best for each segment enabling it to draw out segment-specific strategies.