Bundling products and services together impacts the perceived value of the individual items in that bundle in surprising ways. Recent research from professor Ayelet Fishbach of the University of Chicago’s Booth School of Business, working in collaboration with doctoral student Franklin Shaddy, shows an asymmetry in the valuation of individual items depending on whether the […]
Read More… from Contradictory Attitudes of Consumers to Bundling
Marketing luxury products requires connecting with consumers’ often emotion-driven desires, aspirations, and/or fantasies. However, many consumers cannot put aside their ‘rational’ mindset, and as a result feel guilty when purchasing purely hedonistic products. How can luxury companies appeal to the pleasure-seeker in their consumers while reducing the guilt from such pleasure-seeking? The answer, according to […]
Any consumer who has entered a high-end luxury shop and been treated with disdain by the sales clerks will understand the meaning of ‘retail rejection’. Many luxury companies are trying to change the attitudes of their salespeople, encouraging them to be friendly and welcoming. Previous research on social rejection, however, indicates that retail rejection may […]
Read More… from Why Customers Put Up With Rude Luxury Shop Assistants
Products and services fit into certain categories. For example, circuses, theatres and sporting events are all sources of live entertainment, yet they each fit their own category. Categories are defined by the attributes that customers expect from those categories. The circus category involves a traveling show with animals and clowns; the attributes of the theatre […]
Read More… from The Competitive Implications of Customer Expectation
Customers make a decision about which product to buy in two ways. The first method is to search for information about the product. For example, a customer might read online reviews of restaurants or hotels. The second method is to infer information they don’t have from information they do have. Litter in a parking lot […]
If you’re a national or international company with marketing authority and practices spread across various locations, or if you have a diversified group of products or businesses that call for different marketing approaches, how can you maintain a consistent marketing strategy that is aligned with the company’s overall priorities while still giving local functions the […]
Read More… from How a Marketing Doctrine Overcomes the Flexibility Vs Consistency Conundrum
The relation of appearance to success is no longer questioned. Various studies have shown that taller (for men) and more attractive (for both men and women) people reach higher levels of leadership, make more money, and are more respected by their peers than less attractive people. These and other measures of success, however, focus on […]
Read More… from How a CEO’s Attractiveness Can Boost Shareholder Value
As reported in a 2013 Advertising Age article, Geico Insurance’s ubiquitous talking Gecko was launched as a trial balloon. There had been no prior marketing research, and certainly no intention of creating a long-running marketing character who now has a book and appears in life-size form at sporting events. However, As Geico CMO Ted Ward […]
Companies struggle with two apparently contradictory goals. They want their brands to be central in their category — in other words, the brand of record, similar to the position held by Coca-Cola in the soda category or McDonald’s in fast food. At the same time, however, they want their brands to be distinctive, standing out […]
Read More… from Mapping Brand Strategy: Balancing Centrality Vs Distinctiveness
Many organizations must deal with multiple ‘logics’ that come with different and often conflicting or competing rules of the game. For example, organizations in the medical field must balance the logics of science and care. Companies in the micro-finance industry balance commercial and development logics: they are bankers who are also involved in advancing developing […]
Read More… from The Role of Identity When an Organization’s Purpose Changes
