You only buy the knockoff because your income is constrained. If your income was higher, you would be buying the brand that was advertised to you. Knockoffs are inferior goods, which is a Economics term for something that you buy less of when you have more money.
The ad worked on you because you want that type of item instead of something completely different. For example, an iPhone ad will not just advertise Apple but also smartphones in general. When you see the ad, you are enticed to buy an iPhone instead of an Android. But also you are enticed to buy smartphones in general, instead of a snowmobile. This is called “mindshare” and it is something large companies spend billions on.
Everyone knows Coca Cola exists but they still advertise to remind you. They want you to be thirsty, specifically for Coke, but just generally too.
So if a person sees an iPhone ad and goes and buys an android instead, the iPhone ad still worked on them because “mindshare”?
Are you sure it has nothing to do with the fact that smartphones are in integral part of daily life for people? Any adult knows they basically need one regardless of any ads they might have seen.
You only buy the knockoff because your income is constrained. If your income was higher, you would be buying the brand that was advertised to you. Knockoffs are inferior goods, which is a Economics term for something that you buy less of when you have more money.
The ad worked on you because you want that type of item instead of something completely different. For example, an iPhone ad will not just advertise Apple but also smartphones in general. When you see the ad, you are enticed to buy an iPhone instead of an Android. But also you are enticed to buy smartphones in general, instead of a snowmobile. This is called “mindshare” and it is something large companies spend billions on.
Everyone knows Coca Cola exists but they still advertise to remind you. They want you to be thirsty, specifically for Coke, but just generally too.
So if a person sees an iPhone ad and goes and buys an android instead, the iPhone ad still worked on them because “mindshare”?
Are you sure it has nothing to do with the fact that smartphones are in integral part of daily life for people? Any adult knows they basically need one regardless of any ads they might have seen.