Logo design is particularly important because Michelin have less freedom with the design of their product and packaging due to safety regulations, therefore their logo and branding must create brand salience in the minds of the consumer

This strategic choice enhances consumer perceptions of the brand's capacity to fulfil their practical needs, thus achieving functional congruity

The tyres themselves even have the logo and the michelin man on which increases utilitarian value for the customer

Michelin make tyres for over 13 different vehicles, including cars, bicycles, trucks and aircraft. Within these vehicle categories, there is an extensive range of different tyres for varying purposes such as the crossclimate range and the primacy range for passenger cars. Some tyres even have over 100 different sizes available

Even have tyres available for electric and hybrid cars- important because people value a company promoting being environmentally friendly

This range allows the brand to satisfy the practical needs of various customers in different industries.

Even each tyre has its own range, such as the Primacy with the Primacy 3, 4 and 4+, indicating that the brand can maintain its position as a premium tyre supplier whilst also offering a variety of options for all customers, but not compromising on offering consistent 'safety made to last'

In accordance with its functional brand management strategy, Michelin uses a premium pricing strategy

Using the example of the UKs best selling car so far in 2023, the Vauxhall corsa, the following prices indicate how much tyres for this car would cost a customer

This pricing strategy reflects the functional value of the brand by reflecting the superior quality that it possesses in relation to its competitors,

What is the theory where people think they are getting something of higher quality when they pay a higher price??

People are prepared to pay because they know they can rely on the brand of tyres to be durable, longlasting and safe

MAKE A PRICE COMPARISON DIAGRAM LIKE IN EXAMPLE

Michelin has established a large variety of retailers for its brand, with over 50 retailers in the city of Edinburgh alone

Official retailers include some of the UKs largest car repair and servicing companies like KwikFit and Halfords.

Also the tyres are stocked byb some smaller independent car garages

As classified by the economic times, tyres are a low involvement good, therefore ease and satisfaction are the customers priority

widespread accessibility is crucial as it results in repeat purchases of the brand and perhaps in turn consumer loyalty

Last time they supplied tyres for F1 was in 2006, after which it withdrew from the sport because of disagreements with the direction of the sport. Michelin wants to be innovative with its tyres and says that F1 doesnt seem interested in allowing that to happen Link Title

Michelin want to introduce 18 inch tyres to F1 rather than the usual 13 inch, but cannot convince the company to do so

Worldwide 445 million watched it in 2021

Pirelli has been supplying their tyres exclusively since 2011 Link Title

This would be good for Michelin as brand placement could result in larger brand recognition and salience from consumers, as F1 has such a large and growing viewer base. This means that consumers will associate their tyres with high quality, performance and reliability because they are used by professional sports teams

However, this type of partnership may enable some associations that are unfavourable for Michelin. For example, F1 is often considered a risky and dangerous sport. For consumers unaware of their full scale of offerings, they may be less willing to use Michelin tyres for their cars as they might think they are only for sports cars and not fit for every day use on normal cars. They might brand the tyres unsafe to use on normal roads.

Functional brands are often seen as heuristic frames, as they have low search costs, low involvement and simple decision making on behalf of the consumer

Maslow's hierarchy of needs - high quality tyres made by Michelin satisfy the safety needs of consumers as they are assured they can drive safely due to the quality of the tyres

Brand personality could be seen as competent in the 5 personality factors identified by aaker 1997, as it is reliable, intelliegent and successful