7. Copycats
By copycats we mean brands that try to profit from the name and fame of well-known brands. Often it concerns a cheaper version of, for example, Coca Cola or Starbucks.
Research by Pieters and Van Horen shows that people in an unfamiliar environment are more positive towards copycats. They indicate that a Dutch person in Shanghai is more willing to go to a copycat of Starbucks (Usabucks) than if it is in the Netherlands. So we have a preference for familiarity in an unfamiliar environment. While in a familiar environment there is an aversion towards copycats.
8. Evaluability hypothesis
The evaluability hypothesis states that our evaluation of a product depends on the possibility of comparing the product. This was demonstrated by measuring people's willingness to buy a product in two situations. Alone or together with the other product.
For example, people were given the choice of a 10,000-word dictionary with no defects or a 20,000-word dictionary with a torn cover. When the dictionaries were evaluated separately, the majority chose the 10,000-word dictionary. When the dictionaries could be compared, the majority chose the 20,000-word dictionary.
This is because the number of words is a characteristic that is difficult to assess without an alternative. A dictionary with a torn cover can always be assessed. An implication of this is that it is korean phone number whatsapp sometimes better to provide less information in the separate evaluation (such as torn cover). It may also be wise to provide a percentage indication in the separate evaluation compared to the average. Think of: "this processor performs 30% better than the average processor in this price range".
The purpose of this story is to provide more insight into the irrationality of today's consumer. Psychological research is often a tangle of situations that are subject to effects. There is usually little need for this from an economic perspective because there are no formulas to attach to it. Only when it can be demonstrated that behavior is predictably irrational can it be used in the economic field.
The studies I explain above show with robust results that the consumer does not always act rationally. The predictability of irrationality makes it possible for marketing and sales departments to respond to this. Therefore, take a good look at whether these studies can be relevant for your company or organization.
n uncertain times when consumers are wary of companies, politics and the media, the need for trustworthy brands is growing. Marketers who center their customer experience strategy around building trust will thrive in 2018.