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With gas prices at a record high, it was surprising to hear that consumers are marking their gas purchase decisions based upon product performance rather than price. I thought I was alone in being brand loyal, but I am glad to hear that is not the case. According to research by the NPD Group, this marks a shift in consumer behavior after a decade of decline in gas purchases due to product performance.
Armed with the knowledge of this change in consumer behavior, BP has launched a new branded gas formula, Invigorate™. BP claims that this new formula “helps cars run younger for longer” by protecting vehicles against corrosion, deposit and sludge formation and improving drivability and performance. Branding this new formula rather than just highlighting product benefits during advertising will allow BP to provide consistent communication throughout the marketplace. Initially, BP is rolling out this new formula to 35 markets. Our home city of Charlotte is one of the lucky 35. I picked performance over price yesterday and filled up with the new formula at BP.
By: Rebecca Parker