Although the concept of brand has similar qualities for both consumers and producers, it has different meanings. Consumers and producers view the brand from different perspectives. While most of the time brand equity is analyzed from the consumer perspective, this study will present a different perspective by adding the producer’s perspective on brand equity to the consumer-based brand equity. Therefore, in addition to consumer-based brand equity, this study will also examine producer-based brand equity.
Brand equity is defined as all the values and liabilities that a product or service provides to firms or customers associated with the brand name or symbol. When the elements that make up brand equity are properly understood and effectively applied to the brand, a strong brand emerges.
As a result of marketing’s utilization of fields such as neurology, sociology and psychology, Marketing 4.0, or Neuromarketing, has emerged as a new trend. Neuromarketing is a field that brings together different disciplines – psychology, sociology, marketing and neurology. This discipline focuses on analyzing the “irrational” or “irrational” decisions that consumers make during the purchasing process. Consumers often make these irrational decisions based on emotional, impulsive factors and stimuli perceived by the five senses. Neuromarketing explains that not only rational but also irrational aspects of consumer behavior play an important role in the decision-making process. It uses brain imaging techniques to understand this.
Neuromarketing takes the interaction of brands with consumers beyond the five senses and explores the impact of sensory experiences on brand perception. For example, certain smells, sounds or colors can strengthen a consumer’s connection with a brand and increase brand equity. Emotions are at the heart of consumer decisions. Neuromarketing can help brands build strong emotional connections with consumers. Emotionally connected consumers are more loyal to the brand and perceptually increase its value. Design elements can trigger specific emotional responses in the brain. Neuromarketing helps to understand which design elements will increase brand equity. For example, minimalist designs inspire simplicity and trust, while rich color palettes can evoke vibrancy and energy. As a result, Neuromarketing strategies enable brands to not only predict consumer behavior, but also have the power to shape it.
Reference: Psychologist Merve Altındağ
Utkutuğ, Ç., & Alkibay, S. (2013). NÖROPAZARLAMA: REKLAM ETKİNLİĞİNİN PSİKOFİZYOLOJİK TEKNİKLERLE DEĞERLENDİRİLMESİ ÜZERİNE YAPILMIŞ ARAŞTIRMALARININ GÖZDEN GEÇİRİLMESİ. Hacettepe Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, 31(2), 167-195.
