Why Twitter's Narrative Damages Tesla: Strategic Vision's Brand Equity Index™ Explains

SAN DIEGO - December 20, 2022 /PRNewswire/ SV announces the results from its annual Brand Equity LINK (BEI) survey. This report provides critical insight into the health of automotive brands by combining owner and non-owner perspectives on brand values, perceived quality and future consideration. BEI shows how strong brands can sell average products with weaker brands that struggle with empirically superior products.
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Tesla is an example of a brand that has a strong BEI and generates interest. However, Tesla's sales have fallen in recent months. Strategic Vision's Brand Equity Index explains how Musk’s Twitter woes affect Tesla. Tesla's CEO Elon Musk is heavily associated with its brand image. Musk's acquisition of Twitter was his first act of interest. His subsequent decisions to ban users, reduce restrictions and make new demands of his employees all had an impact on Musk's image. "In the last year, Tesla's brand equity has been reduced across all brand values, from Refinement to foundational Safety.
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Alexander Edwards, Strategic Vision President, reports that Tesla's brand DNA has suffered the most drops. These problems are magnified by the fact that BEVs (battery electric vehicles) are often bought by Democrats who are generally against Musk's Twitter actions. As the Tesla narrative makes it less fun and alienates primary buyers, it will be more difficult to sell Tesla cars.
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Edwards adds that the BEI results reveal Tesla's weakness in its core DNA. This gives other brands an opportunity to capture BEVs. Brand Equity LINK, which is the only measure of the value-emotions that consumers associate with each brand, is the only one. BEI is a combination of the opinions of new-vehicle buyers who were asked to rate brands, both automotive and non-automotive. It includes three key areas that add up to the total BEI score. The "Believed Brand Quality" is the first area. This is often interpreted as the brand's reliability and future durability.
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The second section is about future consideration of brands they might, could, or would consider buying in the future. The last section is about identifying brand value-emotions or brand DNA. This refers to the brand's meaning for owners and non-owners. These value-emotions begin with the foundational values of Safety, Trust, and Confidence, and then move on to higher-value-emotions like Fun, Prestige, and Refinement. According to BEI, Toyota, Lexus and Lexus are today's strongest brands.
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BEI also shows which brands are likely to grow their market share in the future, such as Genesis or Subaru. This is especially true if owners promote and invite others, says Christopher Chaney Senior Vice President of SV. This will be more important as auto companies scramble to sell more in the post-pandemic environment. Tesla's weakening brand DNA may allow customers to consider BEVs from those with stronger DNA, for example.
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Tesla should be worried about Mercedes-Benz's return to the top BEI in its category. Stellantis Group brands were at the bottom of their price categories. Each of the Stellantis brands was strong, with Alfa Romeo being highly rated by its owners in Excitement and Refinement. However, people who didn't own these brands had different perceptions and were less likely future buyers to be interested in them. Strategic Vision analyst Ryan Ruiz explained that Stellantis brand consumers don't move beyond initial interest to genuine consideration because of the lack foundational security
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According to ValueCentered psychology, excitement can only be experienced if there is a solid foundation in Security. Vehicles that don't deliver security will be the lowest priced in their price ranges. The Brand Equity Index (BEI), along with a sampling of the associated metrics, is as follows:Brand Equity Index Leaders Toyota 637 Brands Lexus 617 Brands Lexus 617 Brands Lexus 617 Brands Lexus 617 Brands Lexus 611 Brand Values By Owners Top Brand Owners Trust Honda 71 Safety Volvo 90 Confidence Lexus Lexus 58 Smart choice Hyundai 67 Fun To Drive MINI 95 Excitement Alfa Romeo. 54 Brand Values By Non-Ownerst Toyota 35 Smart Choice Toyota 51 Toyota 75 Fun to drive Porsche 75 Refine Mercedes-Benz-Benz 64 Refine Mercedes-Benz-Benz-Benz-Benz-Ow/22 timeframe. Strategic Vision calculates the Brand Equity Index every year since 1995.
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Strategic Vision was founded in 1989 and has been studying consumer and constituent decision-making since then. Its clients include most auto manufacturers, Coca-Cola and American Airlines, Procter and Gamble and many advertising agencies. Its unique expertise lies in identifying customers' motivational hierarchies. This includes the values that influence perceptions, capture customers' emotions and drive behavior. Its ValueCentered Surveys and in-depth Discovery Interviews yield comprehensive, actionable results.
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Contact Alexander Edwards and Christopher Chaney for more information or to request interviews at 858.576.7141 or go to URL. View original content to download multimedia:URL.htmlSOURCE Strategic Vision