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:
“For even satire is a form of sympathy. It is the way our sympathy flows and recoils that really determines our lives. And here lies the vast importance of the novel, properly handled. It can inform and lead into new places our sympathy away in recoil from things gone dead. Therefore the novel, properly handled, can reveal the most secret places of life: for it is the passional secret places of life, above all, that the tide of sensitive awareness needs to ebb and flow, cleansing and freshening.”
—D.H. (David Herbert)
“We have been told over and over about the importance of bonding to our children. Rarely do we hear about the skill of letting go, or, as one parent said, “that we raise our children to leave us.” Early childhood, as our kids gain skills and eagerly want some distance from us, is a time to build a kind of adult-child balance which permits both of us room.”
—Joan Sheingold Ditzion (20th century)
“There are of course people who are more important than others in that they have more importance in the world but this is not essential and it ceases to be. I have no sense of difference in this respect because every human being comprises the combination form.”
—Gertrude Stein (1874–1946)