report 2011/ wave 1
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REPORT 2011/ WAVE 1
© 2011. Synovate Ltd. 2
About the research....
Who?Who? 951 respondents, aged 18-69, with a nationally representative gender split951 respondents, aged 18-69, with a nationally representative gender split
Where?Where? Nationally representative at 9 regions, each with 4 urbanisation levels
Nationally representative at 9 regions, each with 4 urbanisation levels
When?When? Latest research undertaken in May 2011Latest research undertaken in May 2011
How?How? Face-to-face interviews with respondents, generating data at a 95% confidence level
Face-to-face interviews with respondents, generating data at a 95% confidence level
© 2011. Synovate Ltd. 3
Understanding consumer confidence...
© 2011. Synovate Ltd. 4
“After a resurgence of
positive sentiment at the start of
2010, the personal outlook amongst most
consumers seems to be
bleaker...
HOWEVER...
© 2011. Synovate Ltd. 5
...when you think the economy has reached the lowest possible point, surely the only
way left is up....?”
© 2011. Synovate Ltd. 6
A clear sense of impending economic misfortune in the face of a global recession…
Source: Synovate Bank Booster May 2011, all respondents, N=951
The economy is strong
The economy is in a bad patch, but it will get better quickly
The economy is as bad as its going to be
The economy is going downhill, and will get worse before it gets betterI don’t know
© 2011. Synovate Ltd. 7
…followed by mixed uncertainty about what the future holds, & fears of a slow recovery….
Source: Synovate Bank Booster May 2011, all respondents, N=951
The economy is strong
The economy is in a bad patch, but it will get better quickly
The economy is as bad as its going to be
The economy is going downhill, and will get worse before it gets betterI don’t know
© 2011. Synovate Ltd. 8
…and a feeling that the worst is over, perhaps an economic journey on the road to recovery?
Source: Synovate Bank Booster May 2011, all respondents, N=951
The economy is strong
The economy is in a bad patch, but it will get better quickly
The economy is as bad as its going to be
The economy is going downhill, and will get worse before it gets betterI don’t know
© 2011. Synovate Ltd. 9
“...but what about
me...?”
© 2011. Synovate Ltd. 10
Consumer positivity in 2010 has given way to a far bleaker view of personal financial situation confidence in 2011…
Source: Synovate Bank Booster May 2011, all respondents, N=951
!
© 2011. Synovate Ltd. 11
“...and why should I care anyway...?
© Synovate 2011 12
With rising consumer financial insecurity often comes rising apathy – a feeling that their choice of bank won’t change anything…
“The decision of which bank I use is important to me...”
Decision NOT important:
37%
Decision IS important:
46%
!
Source: Synovate Bank Booster May 2011, all respondents, N=951
Completely agreeAgreeRather agree
Neither agree, nor disagreeRather disagree
Disagree
Completely disagree
© Synovate 2011 13
“...so, does it even matter if
anyone stands out from the crowd...?”
© 2011. Synovate Ltd. 14
DSK clearly stands out for consumers in terms of top of mind brand awareness...Top of mind spontaneous brand awareness (first mentioned)
Source: Synovate Bank Booster May 2011, all respondents, N=951
Other
© 2011. Synovate Ltd. 15
...and in terms of being the brand consumers are most aware of....Total spontaneous brand awareness (first mention + all other spontaneous awareness)
Source: Synovate Bank Booster May 2011, all respondents, N=951
Other
76%
57%
37%
40%
50%
29%
20%
13%
15%
12%
10%
12%
10%
18%
© 2011. Synovate Ltd. 16
“but when all is said and done, is being thought
of...
© 2011. Synovate Ltd. 17
st
...all that
really
matters?”
© 2011. Synovate Ltd. 18
Maybe it goes deeper than
what is at the
top of your mind...
© 2011. Synovate Ltd. 19
Maybe it’s what’s in
your
heart that really counts...
© Synovate 2011 20
…and how Attractive is it, relative to the competition?
Performance
How well does the brand perform?
AppealHow important is this brand to me?
Does it have personal meaning?
It is a measure of the Strength of the psychological Desire to
have the brand. It represents the Meaning, the Value of the brand to the consumers.
Introducing Attitudinal Equity, a measure of consumer desire to be with your brand
© Synovate 2011 21
A closer look....
© Synovate 2011 22
Correlation of Attitudinal Equity with Market Share
R = 0.91R2 = 0.83
Real Market Share
Attitudinal Equity
The higher your attitudinal equity score, the greater desire consumers have for your brand, and the higher your resulting market share will be….
Validation Study Results
2011 Synovate Ltd.
What does this mean for you?
If you increase your attitudinal equity by 1, your market share
increases by 1%
© Synovate 2011 23
“So who do Bulgarians
love the most...?
© Synovate 2011 24
Well, they’re most likely to consider DSK…
DSK
UBB
UniCredit Bulbank
Postbank
Raiffeisen
First Investment Bank
Central Cooperative Bank
SG Expressbank
AE Score (total brand desire)
Source: Synovate Bank Booster October 2011, respondents who consider using the respective bank
48%
29%
25%
23%
19%
13%
10%
9%
Brand Consideration
© Synovate 2011 25
…but the degree to which they desire each of the brands they consider varies…
DSK
UBB
UniCredit Bulbank
Postbank
Raiffeisen
First Investment Bank
Central Cooperative Bank
SG Expressbank
Total AE Score (total brand desire)
Source: Synovate Bank Booster October 2011, respondents who consider using the respective bank
48%
29%
25%
23%
19%
13%
10%
9%
Brand Consideration
Strength of desire amongst those considering brand
© Synovate 2011 26
…but desire for DSK is comparatively stronger than that of the competition…
DSK
UBB
UniCredit Bulbank
Postbank
Raiffeisen
First Investment Bank
Central Cooperative Bank
SG Expressbank
Total AE Score (total brand desire)
Source: Synovate Bank Booster October 2011, respondents who consider using the respective bank
48%
29%
25%
23%
19%
13%
10%
9%
Brand Consideration
Strength of desire amongst those considering brand
© Synovate 2011 27
DSK
UBB
UniCredit Bulbank
Postbank
Raiffeisen
First Investment Bank
Central Cooperative Bank
SG Expressbank
Ranking of Brand Desire
…so how does this compare to market share?
Source: Synovate Bank Booster October 2011, respondents who consider using the respective bank
1
2
3
4
5
6
7
8
Total AE Score (total brand desire)
© Synovate 2011 28
DSK
UBB
UniCredit Bulbank
Postbank
Raiffeisen
First Investment Bank
Central Cooperative Bank
SG Expressbank
Ranking of Brand Desire
The brand with the highest attitudinal equity score, wins….
Source: Synovate Bank Booster October 2011, respondents who consider using the respective bank
1
2
3
4
5
6
7
8
Total AE Score (total brand desire)
1
2
3
4
5
6
7
8
Ranking of Bank Usage (consumer
market share)
© Synovate 2011 29
“So how do you turn the key of brand desire to drive
market share?
© Synovate 2011 30
…you create greater emotional connections and brand desire than your competition…
DSK
UBB
UniCredit Bulbank
Postbank
Raiffeisen
First Investment Bank
Central Cooperative Bank
SG Expressbank
Total AE Score (total brand desire)
Source: Synovate Bank Booster October 2011, respondents who consider using the respective bank
48%
29%
25%
23%
19%
13%
10%
9%
Brand Consideration
Strength of desire amongst those considering brand
© Synovate 2011 31
Greater emotional proximity through marketing and
communications
© Synovate 2011 32
Differentiation through a superior customer
experience
© Synovate 2011 33
Targeted proposition development for key segments
to create personal meaning
© Synovate 2011 34
Thank You!
Our curiosity is all yours!
© Synovate 2011 35
For more information please contact:
Ivaylo YorgovSenior Client Service Executive
bankbooster.bulgaria@synovate.com
+359 02 44 04 901
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