Neglected Brands Face Costly Brand Perceptions
Chevrolet has redesigned its 2016 Malibu and by most accounts the new model is significantly better than previous versions.
NEW THINKING
Chevrolet has redesigned its 2016 Malibu and by most accounts the new model is significantly better than previous versions.
A post by James D. Roumeliotis and Violetta Ihalainen of Whitefield Consulting, absolutely challenges my worldview as an unabashed meritocrat, but includes some fascinating points – particularly that absolute (objective) quality is far less important for consumers in their decisions about brands than perceived quality.
I have been exploring the importance of brand meaning. My basic premise is that the brands which people find to be different in a good way are the ones they will be willing to pay a price premium for.
Brand perceptions are much more often created by the product or service experience itself than from marketing communication.
No doubt about it change is hard. Humans resist change until they absolutely have to. Like a bad habit, you won’t kick it until it threatens your very existence. So it is with changing a brand’s perception in the minds of customers.