Lamborghini headquarters is in Sant’Agata Bolognese, Italy. Analyzing the

Lamborghini
Urus advertisement

 

Lamborghini is a global automobile
manufacturer. The company is owned by Volkswagen Group through its subsidiary
Audi. The brand is known for manufacturing luxury supercars, sports car and SUV’s
Their headquarters is in Sant’Agata Bolognese, Italy. Analyzing the marketing
strategy that Lamborghini conducts explains why it has successfully fulfilled
criteria to become a well-known brand.

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1.0 Examination of brand
Equity

 

The Aker model, created by David A. Aker
defines the brand equity as the set of brand assets and liabilities linked to
the 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 respect
to the brand, as well as the prices, Market share and profitability that the
brand commands for the firm. Brand equity is an essential intangible asset that
has mental and monetary value to the company. Brand equity has three basic
components:

 

o  
Brand Awareness is the magnitude to
which a brand is known amongst the public, which can be measured using the
following factors –

 

v Association Anchor: Depending on the strength of
the brand name, more or fewer associations can be attached to it, which will influence
brand awareness.

v Familiarity: Clients with a positive outlook
towards a brand, will talk about it more and increase brand awareness.

v Commitment:  Brand loyalty.

v Consumers consideration: To what level does
the brand form part of the evoked set of brands in a buyer’s mind.

 

o  
Perceived quality is the magnitude to
which a brand is considered to provide good quality products it can be measured
on the basis of the following five standards.

 

v The value offered by the brand or product is a
purpose to purchase it  

v Level of position in relation to rival brand

v Price: As the product becomes more difficult
to evaluate, and status is at play, consumer tend to take price as a quality
indicator.

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 tell
the consumers the brand stands for a firm quality and guarantee that is
applicable on a wide scale.

 

o  
Brand association is the Magnitude to
which 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 five
following indicators –

 

v The degree to which a brand name
is able to ‘regain’ associations from the consumer’s brain: such information
from TV promotion.

v The degree to which association
contribute to brand differentiation in relation to the rivalry.

v The degree to which brand associations
play a role in the buying process: the bigger this extent, the greater the
total brand equity.

v The degree to which brand
association create positive feeling: the superior this extent, the greater
total brand equity.

v The number of brand extensions in
the market: the larger this number, the better opportunity to add brand
associations.

 

 

2.0 Analysis of the ad

 

 

This advertisement is
selling a brand of luxury sports car called “Lamborghini Urus”. At first
glance, the advertisement looks very dominant and alluring. This is most likely
the intension of the sellers because it relates to their product. They are
using the transfer technique to create a feeling
of freshness, Raw power and new innovation in SUV Segment. They are using an off-road
terrain as their background with bright white text and some other yellow coloring
to portray that. The seller claims that their product is unique, for example,
the advertisement says that “Lamborghini urus is the world’s fastest SUV ever
driven” and with a “top speed of 190 mph it has a soul of supercar”. The seller
uses these words to try and make their product unique to buyers. They want to
stand out as a supercar that is luxurious and family friendly as they have stated
in their advertisement that the car has place to accommodate all the family
members. They imply that no other products in the same field offer these
incentives. Given that this advertisement was found in a car magazine, one can
assume that the target audience will be car enthusiast generally men. Upon
further inspection of the advertisement, it is clear that the product’s target
audience is middle aged men who are interested In SUV’s but with the
performance of supercar. The words “Rambo lambo “, “super car”,” fastest SUV”
all contribute to this. The elements of the advertisement obviously help the
purpose of this product. The headline “Rambo Lambo” indicates that the car has 1″Wild styling and ferocious performance with this combination
it will help the Urus to make its own indelible mark on the SUV world. With a
twin-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 190
mph. An all-wheel-drive system features a locking center diff, while an air
suspension keeps the ride civilized. Enormous carbon-ceramic brakes should
provide great stopping power”. The
image in the advertisement also makes the buyer feel as though the product is a
super SUV which is very civilised and designed to be driven in urban cities it
can also handle off roading. The slogan for the product is “World’s fastest SUV
driven”. This slogan will, no doubt, capture the attention of men who love fast
cars.2 Lamborghini logo symbolizes the founder’s
zodiac character – the Taurus or a bull. “The golden bull ready for bullfights is
depicted on the black shield with the golden title “Lamborghini” above. The
bull represents Lamborghini sports cars’ power, consistency and fortitude”

 

Association plays a role in buying process the answer
is a major role as because of this customer remember the brand higher this
extent Being a manufacturer of
high-quality sporting cars, the logo has immense recognition deeply along with
other brand logos. Lamborghini’s slogan and logo contributes to the overall
feeling they want buyers to associate with their product. Every single piece of
this print advertisement, from the pictures, the words chosen and the placement
of the colours works together to try to sell the product.

 

 

3.0
Discussion of the ad and brand equity

 

v Brand equity refers to a value premium that a
company generates from a product with a recognizable name, when compared to a
generic equivalent. In this scenario, the ad is focusing of Lamborghini Urus. This
is Lamborghini’s modern SUV, with the powerful brand attached to it lambo Urus
has received lots of attention since its release date was announced. This is
because of brand awareness,
consumers have positive attitude towards this brand the reason for this is “Lamborghini
creates sports cars that are unparalleled in terms of performance and extreme
design with a touch of provocation for the discerning customer who wishes to
stand out wherever he goes”. The ad does justice to the above statement the SUV
has appealing design and has facts and figures which targets consumers who wants
to stand out.

 

v Moving on to second component of brand equity
which is perceived quality, often
the quality offered by the brand is the reason customers buys the product, Quality
is a Core competence of Automobili Lamborghini. its vision is to produce and
design most reliable, appealing and innovative luxury super sport cars
worldwide. Its position in relation to
competing brand, Lamborghini’s cars are classified as super cars its main rival
are Ferrari, Aston martin and Porche. Lambo is known well for the quality of
its interior which is one of the best in its segment. Customers often perceive price
as quality indicator Lamborghini is priced smartly it has pricing similar to
its rivals but is slightly more expensive which makes its customer believe that
its cars are more luxurious, people who drive them have higher status all these
factors led to consumers mindset about the brand, let’s compare these facts
with the ad Lamborghini urus is priced at $200,000 which is relatively higher
than its rivals and the model is available widely that has had a positive
effect on consumer they identify brand as more superior. At last Lamborghini also
sells merchandise which have its brand on it for example clothes, shoes,
watches etc. These are brand extensions which assures customer regarding the
quality and the name of the brand. Merchandise have a positive impact on brand
image as they have premium price which helps it to maintain superior position
in the market.

 

v Finally, last component of brand
equity is brand association, it is
the extent to which a particular brand comes to the mind when choosing products
from general category. Lamborghini doesn’t have any ads on TV as they don’t need
to create a brand awareness since majority of world population know them. Brand
association for Lamborghini would be speed, sound, scissor door and carbon
fibre material that is used in it. Lamborghini’s unique scissor doors and sound
helps the company to differentiate itself from its rivals. The degree to which brand associations
play a role in the buying process is very high as it’s because of brand
association people remember the product. Lastly, I would like to conclude this
paragraph by saying higher the brand association higher and positive the brand
equity is for the brand.

 

4.0 Conclusion

 

Hence,
from the above study it can be concluded that brand equity is a major indicator of business
strength and performance, specifically in the public markets. Often companies
in same sector compete on brand equity as this is what distinguishes the
product. Mass
marketing campaigns can help to create brand equity. There is a function of
marketing known as brand management it uses techniques which can be helps to increase
the perceived value of a brand over time. Successful brand management enables
the price of products to go up and builds loyal clients through positive brand associations. Brands
have a powerful impact on customer engagement, rivalry in the marketplaces, and
the management of a company. A positive brand presence in the market
differentiates a company’s products from its rivals and creates brand attraction
for a company’s products and services. It takes ages to establish a brand, but
when it ultimately happens, it has to still be continued through creativity and
innovation. I believe perceived quality is the single most important contributor
to 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 last
all 5 components of brand equity provide value to the customers by enhancing
customers satisfaction, it increases customers confidence in the purchase
decision on the other hand these components of brand equity also provide value
to the firm by enhancing efficiency and effectiveness of marketing program.it
increases brand loyalty and gives businesses competitive advantages.

 

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I'm Dominick!

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