“Signaling” Who We Are
In their quest to be cool, people choose products and brands that "signal" their membership in desired "in-groups" while carefully monitoring whether less desirable "out-groups" are starting to buy such products as well--a clear sign to stop using such products. That's the conclusion of a marketing study described on Knowledge@Wharton, the Wharton School's online business journal.
In an experiment that appears to prove the point, college students in one dorm were sold yellow wristbands "signaling" support for cancer research. A week later students in a dorm "with a social reputation as a 'geek' dorm" were sold the same wristbands. After the less popular kids started wearing the bands there was a 32 percent drop in the number of students in the first dorm wearing them.
Matt's View
What's helpful about reading such research is that it tells us what to watch out for--sort of like getting our hands on the other team's playbook. For example, with companies now "imbuing" even washers and dryers with "social properties" such as designer colors, it's helpful to recognize that they want us to view such products not just for their ability to clean our clothes; but also for their perceived ability to enhance our self-worth. We're certainly free to choose such products, but by understanding all that's gone into the marketing, we gain the freedom to choose products with more practical "properties" such as high quality and a fair price.
This article filed in: Marketing
Managing Money by The Book
- "Therefore everyone who hears these words of mine and puts them into practice is like a wise man who built his house on the rock. The rain came down, the streams rose, and the winds blew and beat against that house; yet it did not fall, because it had its foundation on the rock." - Matthew 7:24-25
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