And with content and advanced technology being pushed into more affordable segments, the raison d’etre for brands is being pushed to the limit as well, leading to the ultimate question for the consumer, which goes something like this:
“If I can get that much at this price point, why should I spend more?”
And that’s where Brand Perception comes in. If a car company manages the perception of its brand (or brands) well, then they don’t have to worry about the consumer asking that question, because consumers will want that brand because they perceive it to be worth the money and special enough to pay a premium for.
Sounds simple, right? Not really. Because as sophisticated as these car companies allegedly are there are still many that find it difficult to manage their brand perception, or fail miserably at it. Which means that the companies that do have it down pat reap the benefits of having a glowing brand perception that much more.
So which brands are really good at it, and which brands well and truly suck at it?