1. As discussed in the 4th recorded lecture on the book "Unconscious branding," do you believe thatstatus and hedonism drive the consumer mindset? Please provide an explanation for your answer.
I absolutely believe that status and hedonism play a huge part in customer mindset. No matter the wealth level of customers, they want to get value for their investments. People invest their time and money into their businesses and want something to show for their troubles. If they decide to splurge on a brand name shirt, luxury watch, etc. it is to tell others they are valuable, they are someone. Also who wouldn't want the top of the line item to show for their hard work? There is also the perceived idea that expense equals quality. I have more Nike Shoes, which shows I have money and I care about my appearance, but yet I also own Sketchers, which is a lower end brand. I wear those almost daily and it is because they are more comfortable and easier to put on. I also want to protect my investment, I am afraid of them becoming dirty or damaged. So what is really brining me value?
2. What marketing tactics can companies use to create empowering, inspiring memories?
Companies create inspiring memories by promoting their products and letting consumers feel important. My wife needed a new car about a year ago and her luck with cars has been less than stellar. From consumer reports and my friend's experiences told me that Subaru's were good value for this issue. We went to a Subaru dealer and the salesman Greg was great, I almost bought a car for myself that night, but at the last minute I resisted the urge. Till this day he still emails me to let me know what specials are going on, customer events, or just to have me in for a test drive. He knows what I am looking to buy and has been trying to get my business for over a year, I will go back to him when it is time for me to buy again.
3. As discussed in the 4th recorded lecture on the book "Unconscious branding," how can companies inspire connections of people sharing with other people? Please provide specific examples of companies who have successfully done this?
Lately I have been seeing Amazon advertising signing up a friend and earning a gift card for yourself. I have to stop and think why Amazon needs to go that route. I have never met a person in America that has never heard of Amazon or the services that they offer. I keep closing the offer but I can see how it could benefit other users. Even though we know what Amazon is, there are others in developing countries do not. Eventually their offers can spread and capture new customers adding to their revenue stream.
Comment on it about 1 paragraph. Such as agree or disagree and why?