Module 1: Market Overview
Introduction
Understanding your brand's place in the market is crucial for any marketing strategy. The Trakkster Report’s Market Overview module provides clear and direct insights, showing you where your brand stands in relation to others. Let’s dive into this module and discover what it reveals about the market.
Insights
Category Penetration
This term tells you about how popular your type of product is within your target audience. It’s like seeing how many people in a group prefer the kind of product you sell, helping you understand how well your product type is doing in the market.
Loyalty Score
The 'Loyalty Score' shows how often customers stick to one brand or try different ones. A high score means people frequently switch between brands, while a low score indicates that customers are more likely to stay loyal to a few favorites.
People in Category
Simply put, this is the total number of people who buy or use products like yours. It gives you an idea of how large your potential market is.
Brands in Marketplace
This metric shows how many different brands are available to customers in your product area. It gives you a sense of how many competitors you have and the variety of choices your customers can pick from.
Brand Categorization
Here, your brand is classified into a group like 'Market Leader', 'Challenger Brand', or 'Emerging Brand'. This classification helps you understand your brand’s standing compared to the competition.
Brand Usage
The 'Brand Usage' chart shows which brands are most commonly used by customers in your area. This graph helps you see how popular your brand is compared to others.
