Brands are the most powerful sales driver in the hi-tech sector, with consumers making emotional, rather than rational, purchase decisions, a new report reveals.
Interbrand Schechter’s study The Power of Simultaneous Branding was carried out in the US in response to the widening audience in the technology sector, along with shortened product life-cycle and increased competition.
“As the market expands… technology companies face a challenge to brand to all of the audience involved in purchasing technology,” the report states.
Hewlett Packard, 3Com, Microsoft and Netscape came out as having the strongest brand equity, because of their “belief in tailored massages based on a set of unwavering values”, says Interbrand deputy chairman Tom Blackett.
Hewlett Packard brand marketing manager Suzanne Bailey says the company’s successful brand strategy is a result of being “single-minded in adhering to the company’s core values of innovation, quality and leadership, while maintaining a very strict corporate style guide”.
Blackett adds: “Building a successful brand is increasingly important for long-term success. Bits and bytes are no longer the prime motivation when it comes to sales.”
Almost 2500 people in the business sector responded to the survey, with the overwhelming majority claiming they looked for “trustworthy brands” and “brands worth investing in” when purchasing hi-tech equipment.
Rational attributes such as reliability and good service are only secondary requirements, needed just to stay in the game, according to the survey.