On how the company a brand keeps determines what consumers think of it (who are you compared to?)

πŸ’Ž On how the company a brand keeps determines what consumers think of it (who are you compared to?)

When consumers who know a lot about cars were asked to evaluate a Honda ad, they rated it more favourably when it was surrounded by ads for prestigious brands like Armani and Rolex, than when it was in the context of less premium brands like Timex and Old Navy. When Simonson and Yoon compared how people evaluated the attractiveness of a series of products, including lawn mowers, food processors, and cars, they found that the strength of preference for a product was influenced by the context of choices presented at the time. For example, when a pen was selected from a set where it was significantly better than another, participants would pay more for it and think it wrote better than when the same pen was selected from a more balanced set of options. With the vast sums spent on advertising, a relatively small investment replicating Simonson and Yoon’s study for your own products and media options could lead to a dramatic difference in the way people feel about your brand.

Excerpt from: Consumerology: The Truth about Consumers and the Psychology of Shopping by Philip Graves

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