Importance
"Awareness, attitudes, and usage (AAU) metrics relate closely to what has been called the Hierarchy of Effects, an assumption that customers progress through sequential stages from lack of awareness, through initial purchase of a product, to brand loyalty." In total, these AAU metrics allow companies to track trends in customer knowledge and attitudes.
Brand awareness plays a major role in a consumer’s buying decision process. The knowledge of an acquaintance or friend having used the product in the past or a high recognition of the product through constant advertisements and associations coaxes the person to make his decision in the favour of the brand.
The eventual goal of most businesses is to make profits and increase sales. Businesses intend to increase their consumer pool and encourage repeat purchases. Apple is a brilliant example of how there is a very high recognition of the brand logo and high anticipation of a new product being released by the company. An iPod is the first thing that pops into our minds when we think of purchasing an mp3 player. iPod is used as a replaceable noun to describe an mp3 player. Finally, high brand awareness about a product suggests that the brand is easily recognizable and accepted by the market in a way that the brand is differentiated from similar products and other competitors. Brand building also helps in improving brand loyalty.
Read more about this topic: Brand Awareness
Famous quotes containing the word importance:
“More than ten million women march to work every morning side by side with the men. Steadily the importance of women is gaining not only in the routine tasks of industry but in executive responsibility. I include also the woman who stays at home as the guardian of the welfare of the family. She is a partner in the job and wages. Women constitute a part of our industrial achievement.”
—Herbert Hoover (1874–1964)
“The moment Germany rises as a great power, France gains a new importance as a cultural power.”
—Friedrich Nietzsche (1844–1900)
“Kitsch is the daily art of our time, as the vase or the hymn was for earlier generations. For the sensibility it has that arbitrariness and importance which works take on when they are no longer noticeable elements of the environment. In America kitsch is Nature. The Rocky Mountains have resembled fake art for a century.”
—Harold Rosenberg (1906–1978)