Lamborghini how consumers think, feel, and act with

Topic: ArtDesign
Sample donated:
Last updated: May 22, 2019

LamborghiniUrus advertisement Lamborghini is a global automobilemanufacturer.

The company is owned by Volkswagen Group through its subsidiaryAudi. The brand is known for manufacturing luxury supercars, sports car and SUV’sTheir headquarters is in Sant’Agata Bolognese, Italy. Analyzing the marketingstrategy that Lamborghini conducts explains why it has successfully fulfilledcriteria to become a well-known brand.  1.0 Examination of brandEquity  The Aker model, created by David A.

We Will Write a Custom Essay Specifically
For You For Only $13.90/page!


order now

Akerdefines the brand equity as the set of brand assets and liabilities linked tothe brand. Brand equity is the added value that endowed to the products and services.This value may be reflected in how consumers think, feel, and act with respectto the brand, as well as the prices, Market share and profitability that thebrand commands for the firm. Brand equity is an essential intangible asset thathas mental and monetary value to the company. Brand equity has three basiccomponents:  o  Brand Awareness is the magnitude towhich a brand is known amongst the public, which can be measured using thefollowing factors –  v Association Anchor: Depending on the strength ofthe brand name, more or fewer associations can be attached to it, which will influencebrand awareness.v Familiarity: Clients with a positive outlooktowards a brand, will talk about it more and increase brand awareness.v Commitment:  Brand loyalty.v Consumers consideration: To what level doesthe brand form part of the evoked set of brands in a buyer’s mind.

 o  Perceived quality is the magnitude towhich a brand is considered to provide good quality products it can be measuredon the basis of the following five standards. v The value offered by the brand or product is apurpose to purchase it  v Level of position in relation to rival brand v Price: As the product becomes more difficultto evaluate, and status is at play, consumer tend to take price as a qualityindicator.v Availability in different sales channel:Consumers have a higher quality perception of brand that are widely available.v The number of brand extensions: This can tellthe consumers the brand stands for a firm quality and guarantee that isapplicable on a wide scale.

 o  Brand association is the Magnitude towhich a certain brand comes to the mind when choosing products from general class.Association triggered by a brand can be evaluated on the basis of the fivefollowing indicators – v The degree to which a brand nameis able to ‘regain’ associations from the consumer’s brain: such informationfrom TV promotion.v The degree to which associationcontribute to brand differentiation in relation to the rivalry.v The degree to which brand associationsplay a role in the buying process: the bigger this extent, the greater thetotal brand equity.v The degree to which brandassociation create positive feeling: the superior this extent, the greatertotal brand equity.v The number of brand extensions inthe market: the larger this number, the better opportunity to add brandassociations.  2.

0 Analysis of the ad  This advertisement isselling a brand of luxury sports car called “Lamborghini Urus”. At firstglance, the advertisement looks very dominant and alluring. This is most likelythe intension of the sellers because it relates to their product. They areusing the transfer technique to create a feelingof freshness, Raw power and new innovation in SUV Segment. They are using an off-roadterrain as their background with bright white text and some other yellow coloringto portray that. The seller claims that their product is unique, for example,the advertisement says that “Lamborghini urus is the world’s fastest SUV everdriven” and with a “top speed of 190 mph it has a soul of supercar”.

The selleruses these words to try and make their product unique to buyers. They want tostand out as a supercar that is luxurious and family friendly as they have statedin their advertisement that the car has place to accommodate all the familymembers. They imply that no other products in the same field offer theseincentives. Given that this advertisement was found in a car magazine, one canassume that the target audience will be car enthusiast generally men. Uponfurther inspection of the advertisement, it is clear that the product’s targetaudience is middle aged men who are interested In SUV’s but with theperformance of supercar. The words “Rambo lambo “, “super car”,” fastest SUV”all contribute to this.

The elements of the advertisement obviously help thepurpose of this product. The headline “Rambo Lambo” indicates that the car has 1″Wild styling and ferocious performance with this combinationit will help the Urus to make its own indelible mark on the SUV world. With atwin-turbo 4.0-liter V-8 packing 641 horse power under its stubby hood,Lamborghini estimates a zero-to-62-mph time of 3.6 seconds and top speed of 190mph.

An all-wheel-drive system features a locking center diff, while an airsuspension keeps the ride civilized. Enormous carbon-ceramic brakes shouldprovide great stopping power”. Theimage in the advertisement also makes the buyer feel as though the product is asuper SUV which is very civilised and designed to be driven in urban cities itcan also handle off roading. The slogan for the product is “World’s fastest SUVdriven”.

This slogan will, no doubt, capture the attention of men who love fastcars.2 Lamborghini logo symbolizes the founder’szodiac character – the Taurus or a bull. “The golden bull ready for bullfights isdepicted on the black shield with the golden title “Lamborghini” above. Thebull represents Lamborghini sports cars’ power, consistency and fortitude” Association plays a role in buying process the answeris a major role as because of this customer remember the brand higher thisextent Being a manufacturer ofhigh-quality sporting cars, the logo has immense recognition deeply along withother brand logos. Lamborghini’s slogan and logo contributes to the overallfeeling they want buyers to associate with their product.

Every single piece ofthis print advertisement, from the pictures, the words chosen and the placementof the colours works together to try to sell the product.  3.0Discussion of the ad and brand equity  v Brand equity refers to a value premium that acompany generates from a product with a recognizable name, when compared to ageneric equivalent. In this scenario, the ad is focusing of Lamborghini Urus. Thisis Lamborghini’s modern SUV, with the powerful brand attached to it lambo Urushas received lots of attention since its release date was announced.

This isbecause of brand awareness,consumers have positive attitude towards this brand the reason for this is “Lamborghinicreates sports cars that are unparalleled in terms of performance and extremedesign with a touch of provocation for the discerning customer who wishes tostand out wherever he goes”. The ad does justice to the above statement the SUVhas appealing design and has facts and figures which targets consumers who wantsto stand out. v Moving on to second component of brand equitywhich is perceived quality, oftenthe quality offered by the brand is the reason customers buys the product, Qualityis a Core competence of Automobili Lamborghini. its vision is to produce anddesign most reliable, appealing and innovative luxury super sport carsworldwide. Its position in relation tocompeting brand, Lamborghini’s cars are classified as super cars its main rivalare Ferrari, Aston martin and Porche. Lambo is known well for the quality ofits interior which is one of the best in its segment.

Customers often perceive priceas quality indicator Lamborghini is priced smartly it has pricing similar toits rivals but is slightly more expensive which makes its customer believe thatits cars are more luxurious, people who drive them have higher status all thesefactors led to consumers mindset about the brand, let’s compare these factswith the ad Lamborghini urus is priced at $200,000 which is relatively higherthan its rivals and the model is available widely that has had a positiveeffect on consumer they identify brand as more superior. At last Lamborghini alsosells merchandise which have its brand on it for example clothes, shoes,watches etc. These are brand extensions which assures customer regarding thequality and the name of the brand. Merchandise have a positive impact on brandimage as they have premium price which helps it to maintain superior positionin the market.

 v Finally, last component of brandequity is brand association, it isthe extent to which a particular brand comes to the mind when choosing productsfrom general category. Lamborghini doesn’t have any ads on TV as they don’t needto create a brand awareness since majority of world population know them. Brandassociation for Lamborghini would be speed, sound, scissor door and carbonfibre material that is used in it. Lamborghini’s unique scissor doors and soundhelps the company to differentiate itself from its rivals. The degree to which brand associationsplay a role in the buying process is very high as it’s because of brandassociation people remember the product. Lastly, I would like to conclude thisparagraph by saying higher the brand association higher and positive the brandequity is for the brand.

 4.0 Conclusion Hence,from the above study it can be concluded that brand equity is a major indicator of businessstrength and performance, specifically in the public markets. Often companiesin same sector compete on brand equity as this is what distinguishes theproduct. Massmarketing campaigns can help to create brand equity. There is a function ofmarketing known as brand management it uses techniques which can be helps to increasethe perceived value of a brand over time. Successful brand management enablesthe price of products to go up and builds loyal clients through positive brand associations.

Brandshave a powerful impact on customer engagement, rivalry in the marketplaces, andthe management of a company. A positive brand presence in the marketdifferentiates a company’s products from its rivals and creates brand attractionfor a company’s products and services. It takes ages to establish a brand, butwhen it ultimately happens, it has to still be continued through creativity andinnovation. I believe perceived quality is the single most important contributorto return on an investment since it provides customer a reason to buy the product,it helps consumers to distinguish different product on basis of quality. At lastall 5 components of brand equity provide value to the customers by enhancingcustomers satisfaction, it increases customers confidence in the purchasedecision on the other hand these components of brand equity also provide valueto the firm by enhancing efficiency and effectiveness of marketing program.

itincreases brand loyalty and gives businesses competitive advantages. 

x

Hi!
I'm Mia!

Don't know how to start your paper? Worry no more! Get professional writing assistance from me.

Check it out