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Username: LuckyWoman Rating:  Asked to: Apinya Kamon Date Created: 05 Feb 2019 |
| Category | 28 |
| Tag | Financial |
| Question | What is a Halo Effect? |
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Hello LuckyWoman, The halo effect is a term for a consumer's favoritism toward a line of products due to positive experiences with other products by this maker. The halo effect is correlated to brand strength and brand loyalty and contributes to brand equity. The halo effect applies to a broad range of categories, including people, organizations, ideas, and brands. For example, Apple Inc. benefits significantly from the halo effect. With the release of the iPod, there was market speculation the sales of Apple's Mac laptops would also increase due to the success of the iPod. This phenomenon of one product favorably impacting another is known as the halo effect. Companies create the halo effect by capitalizing on their existing strengths. With the concentration of marketing efforts on high-performing, successful products and services, the firm's visibility increases and reputation and brand equity strengthens. |
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