Engaging Millennials with Experiential Marketing in the Beverage Industry

The purpose of this paper is to review the concepts of brand experience in relation to experiential marketing. Traditional marketing views consumers as rational decision-makers who are more concerned with the product’s functional features and benefits, whereas experiential marketing views consumers as rational and emotional human beings who are concerned with achieving pleasurable experiences. The theoretical importance of this study 

comes into view through discussing and conceptualizing the concept of brand experience and brand equity among the Millennial generation which consists of 2 billion new customers worldwide. Therefore, by getting to know the Millennial high-tech savvy consumer, electronics companies can learn how to meet customers’ expectations by providing positive brand experiences to the Millennial high tech buyers. As a result Consumers will continue to 

purchase these electronic devices after they have had a positive brand experience with a certain electronic gadget of this kind. The practical importance of this study comes into view through identifying the strategic importance of brand experience in contemporary brand management. As a result marketers can gain competitive advantage through successful brands. Hence, this study will provide suggestions for future research to empirically measure 

The influence of brand experience 

on Brand equity among the Millennial generation.gained solid recognition and is considered essential for what it can contribute to marketing knowledge (Grundey, 2008). As a result, the notion of experience is considered to be a pillar of the so called experience economy and experiential marketing. Furthermore, Schmitt Bernd (1999) is considered a great initiator of experiential marketing. Specifically, Schmitt considers that traditional marketing is only 

concerned with the features and benefits. In the traditional marketing model, consumers are thought to go through a considered decision-making process, where each of the features or characteristics of a particular product or service are seen to convey certain benefits, and these are all assessed by the potential purchaser. Therefore, Schmitt Bernd (1999) considers traditional marketing focuses on purchase decision, and exaggerates in emphasizing on the 

rational and logical elements of the decision, without paying enough or any attention on the emotional and irrational aspects involved in the purchase. In marketing, proper branding can result in higher sales of not only one product, but on other products associated with that brand. Hence, a brand is the person personality that identifies a product, service or company (name, term, sign, symbol, or design, or combination of them) and how it relates to 

Customers Hence under the experiential

notion in marketing the psychological aspect are distinguished so for example; brand associations like thoughts, feelings, perceptions, images, experiences, beliefs, attitudes, and so on that become linked to the brand from the experiential aspect. The experiential aspect consists of the sum of all points of contact with the brand and is known as the brand 

experience. Hence, brand experience is a brand's action perceived by a person (Ha and Perks, 2005). However, although past studies has shown the impact of brand experience, both directly and indirectly, on short-term consequences, such as satisfaction and loyalty, the question arises whether brand experiences affect customer lifetime value (Brakus et al., 2009). That is, can brand experiences build brand equity? No study has investigated the influence of brand experience on brand equity of high-tech electronic products among the 

Millennial generation. Thus, investigating the influence of brand experience on brand equity of high-tech electronic products among the Millennial generation is in great demand.According to Brakus et al. (2009) most of the research on experiences to date has focused on utilitarian (usefulness) product attributes and category experiences, not on experiences provided by brands. When consumers search for, shop for, and consumer brands, they are exposed to 

Utilitarian product attributes However

they are also exposed to various specific brand-related stimuli, such as brand-identifying in the branding literature Alsem and Kostelijk (2008) explained the concept of brand identity and defined it as a unique set of brand associations that a firm can create or maintain. It may involve a value-proposition with functional, emotional or self-expressive benefits. It does not 

matter whether the associations are tangible emotional/symbolic or both. For example, colors (Bellizzi and Hite, 1992; Gorn et al., 1997; Meyers-Levy et al., 1995), shapes (Veryzer Jr and Hutchinson, 1998), typefaces, background design elements (Mandel and Johnson, 2002), slogans, mascots, and brandcharacters (Keller, 1987). These brand-related stimuli appear as part of a brand’s design and identity (e.g., name, logo, signage), packaging, and marketing 

communications (e.g., advertisements, brochures, Web sites) and in environments in which the brand is marketed or sold (e.g., stores, events). These brand-related stimuli constitute the major source of subjective, internal consumer responses, which we refer to as “brand experience.” Moreover, Ha and Perks (2005) define experience as display of a relatively high degree of familiarity with a certain subject area, which is obtained through some type of 

Conclusion

exposure (Braunsberger and Munch, 1998). For example, a consumer who has been through the process of information search, decision making and/or product usage would be considered to be experienced. Padgett and Allen (1997) argue that consumer experience is an association of symbolic meaning combined with behavior, thoughts and feelings that occur during the service or product consumption. Consumers’ brand experience refers to their 

knowledge of and familiarity with a brand or brand category (Alba and Hutchinson, 1987). Experience with a brand has more impact than product features and benefits. It can produce a deeper meaning and be more memorable, which can yield greater customer trust in the brand. In addition, In addition, according to Brakus et al. (2009) brand experiences vary in strength and intensity; that is, some brand experiences are stronger or more intense than 

others. As with product experiences, brand experiences also vary in valence; that is, some are more positive than others, and some experiences may even be negative. Moreover, some brand experiences occur spontaneously without much reflection and are short-lived; others occur more deliberately and last longer. Over time, these long-lasting brand experiences, stored in consumer memory, should affect consumer satisfaction and loyalty Oliver