Take a Look in the Rearview Mirror: Determinants of Nostalgic Consumer Responses to Automotive Retro Brands & the Impact on Perceived Utilities

Open Access
- Author:
- Saganowich, Julia
- Area of Honors:
- Marketing
- Degree:
- Bachelor of Science
- Document Type:
- Thesis
- Thesis Supervisors:
- Johanna H Slot, Thesis Supervisor
Jennifer Chang Coupland, Thesis Honors Advisor - Keywords:
- Retro
Retro Branding
Retro Brands
Marketing
Brand Management
Automotive
Automotive Industry
Nostalgia
Cars
Perceived Utilities
Brand Relaunch
Brand Revitalization
Brand Revival
Nostalgia Marketing - Abstract:
- What do the Ford Bronco, the Volkswagen ID. Buzz, and the Toyota Supra all have in common? Great gas mileage? No. The ID. Buzz, based on the classic Volkswagen Microbus, is all-electric, anyhow. All three of these vehicles are newly relaunched retro brands. After years, or in some cases, decades off the market, these iconic brands have been revived, resurrected, and relaunched back into the marketplace, equipped with nostalgic design elements from their noteworthy ancestors and technologically updated product features to meet today’s high performance standards. After identifying gaps in the literature on consumer nostalgia and retro branding, this study attempts to develop a theoretical framework from which to study and manage retro brands specially in the automotive industry. This framework proposes three determinants of and three perceived utilities outcomes of consumer nostalgia in response to newly relaunched retro brands. This framework was tested empirically with the development and online distribution of a survey instrument to car enthusiasts across the United States, which yielded 241 total observations. Correlation and linear regression analysis revealed that identifiability of the newly relaunched retro brand, favorability of the original, and perceived brand authenticity all positively and significantly impact nostalgia evoked by newly relaunched retro brands, which in turn, was also found to positively and significantly impact all three forms of perceived utilities. An additional analysis also provided evidence for an interaction effect, namely the moderating role of knowledge of the original vehicle model on the relationship between favorability of the original and nostalgia evoked by newly relaunched retro brands. This study contributes to the body of knowledge on nostalgia marketing and retro branding and also confirms the value of consumer nostalgia to businesses. From a managerial perspective, this study provides automotive marketers and brand managers a theoretical roadmap to guide internal decision-making surrounding retro branding. The framework provides thoughtful insights and raises critical considerations spanning the entire retro branding strategy process, from planning stages to strategy implementation and post-launch support activities.