Synovate launches brand tracking tool

Hong Kong - Synovate has launched a brand tracking tool that allows marketers to monitor and their market share and find out which competitors are stealing it.

Scott Lee, executive director for Synovate, said distribution, pricing and product configuration can and do impact on customer's brand choice.

He said the tracking tool, Market Barriers, enable marketers to predict the barriers their brands can expect to face, quantify them into lost sales and develop sustainable strategies that can effectively overcome those barriers.

Key challenges unique to Asia include barriers such as distribution and availability of the products and services as well as the issue of counterfeiting particularly in China, Lee said.

He added apart from the FMCG sector which has shown interest, financial services and automobile sectors are positive with this new offering.