What does the degree of brand familiarity imply about previous and future promotional efforts? How does the degree of brand familiarity affect the Price and Place variables? Please give examples.
If previous promotional efforts were effective, brand familiarity would increase. If brand familiarity was established, less money would have to be spent on promotional efforts or the promotions could be more focused on putting forth brand loyalty rather than putting forth brand information. Thus, if a brand is well known, money can be focused elsewhere rather than on promotion or further promotion can be done to increase brand loyalty.
Once brand familiarity increases, the price increases and placing can be less obvious. In other words, once people are ...