L7 - Psychology of Brands Flashcards
Discuss the concept of brand awareness
Familiarity with a brand; or the image of a particular brand or service they offer
Consists of two components:
• Recognising the brand
• Correctly associating it with a particular product/service
Discuss how logos can build brand awareness
They provide marketers with multiple routes to increasing brand awareness
o Mere exposure effect – can be either positive or negative – the more you are exposed to something the more likely you are to remember/associate it
When used effectively, they give brands public visibility
o Provides social proof (social validation)
Thus, the brand advertises itself
o People wearing NIKE shoes makes others think they should go out and invest in NIKE shoes
Discuss how brands can satisfy psychological needs
What are these needs?
The brand satisfies our psychological needs
o Self-definition, self-reflection, self-signalling
o Uniqueness
o Belonging
o effectance
How do brands satisfy the psychological need of the SELF?
Three sides of the self (Prius example)
What age do children understand that brands can signal something about the self?
Symbolic quality of brands means that we can use them to:
o Reflect the self (“I buy a Prius because I see myself as caring about the environment”)
o Signal the self (“I buy a Prius to show others I care about the environment”)
o Define the self (“I care about the environment because I bought a Prius”)
From age 12, children understand that brands can signal something about the self
o 8 year-olds treated brands as informational and perceptual cues
o They’ll say COKE is a soft drink, not COKE is fun and exciting
How do brands satisfy the psychological need to be UNIQUE?
- People also have a need to be unique
o Stronger in some cultures - We use brands to differentiate ourselves from other people
o People with a higher need for uniqueness prefer products that are more distinct
How do brands satisfy the psychological need of the BELONGING?
- Humans have a fundamental need to belong
- We use brands as a way to achieve membership in a group
How do brands satisfy the psychological need EFFECTANCE?
People have a need for effectance - to successfully interact with the environment
o One way to satisfy this need is to exert control over objects and possessions
Instant cake mixes
The Ikea effect – even though you had to put in the time and effort, you value the item more
We overvalue self-made products
Participants who made their own boxes, are willing to pay more money for their box then one that they didn’t make
Suggest involvement is an important factor in getting people involved in the product itself
