MKTG 2030 Lecture Notes - Lecture 9: Brand Equity, Tetra Pak, Ultra-High-Temperature Processing
14 Mar 2016
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Document Summary
Customers go through 10 steps from 0-brand awareness to complete brand awareness. Customers can be your biggest marketing communications tool (persuasion: such as a celebrity talking highly of a product; very efective) Advertising is good for peaking someone"s interest. But it is not good for actually persuading customers to buy. Other tools are used for persuading customers to buy and each tool has its own purpose/use. If a brand with high equity made a mistake, customers are less likely to go to their competitors. If a brand with low equity made mistake, customers are less likely to forgive them. However, even if brand equity is high, it"s not the only key to a brand being accepted. Porsche is trying to expand their target market and make it seem like their 911 carerra is an everyday car. The danger is that they end up alienating the core buyer for the carerra in the process.
