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into a Hyundai showroom and their ego won’t allow them to save $40,000. They would rather pay $100,000 for the SAME product, so long as they can be seen driving a Beemer. The ego is a very powerful thing and me to tell you that when it comes to how and where we spend our money, we are often emotional and irrational beings. And yes, the marketing and branding gurus have been benefiting from, and maximising this knowledge for years. It’s their goal to evoke an emotional response (feeling, reaction, decision) from you and I so that we will buy, no matter how much we haven’t the marketing folk made that fact work for them over the years?2. Most general new-car shoppers won’t consider the new $60,000 two-door Hyundai because they perceive it to be too expensive for that brand. No matter how good the actual product (car) is. As a result, the re-badged BMW doesn’t sell strongly and dies a sad and lonely death within two years of its launch. Never to be seen again. Consequently, a generation of car drivers will miss out on the automotive luxury bargain of the decade because of brand bias, stupidity and ego.Emotional ShoppersOf course, it’s no revelation for
Monday, February 23, 2009
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