The Evolution of Experiential Marketing: Effects of Brand Experience among the Millennial Generation

Abstract

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.