Emotional factors associated with brands make consumers less price conscious

Las emociones son un elemento cada vez más importante en la estrategia de las empresas. El cambio en los hábitos y en los intereses de los consumidores las han convertido en una nueva moneda con valor al alza y en una que las compañías buscan más y de forma más activa. Los consumidores esperan ahora mismo establecer relaciones mucho más estrechas con las marcas y mucho más próximas, al tiempo que las propias compañías tienen que enfrentarse a un entorno en el que cada vez resulta más difícil posicionarse y en el que es más y más complicado llamar la atención por encima de los mensajes de las demás marcas. Cada vez la competencia es mayor, cada vez las relaciones entre marcas y consumidores son más efímeras y cada vez los usuarios esperan más de los productos y servicios que emplean. Brands have to be something more and the things they sell have to go beyond being simply products Cambodia Mobile Database. The relationship between the two is increasingly complex and demanding, and brands are increasingly in need of creating strong and powerful links.

And one of the elements that generate the closest and most solid bonds are emotions. Emotions work as a very powerful tool that makes consumers feel closer to brands. There are the lovemarks, the brands that consumers love, to prove it. Buyers are loyal to these companies over the years and often also ‘pass them on’ to their children and grandchildren. It is very difficult that, once a brand enters the list of lovemarks, But the truth is that emotions not only have an effect on how the consumer relates to the brand, but also have a direct impact on what they are or are not willing to spend on a product or a brand. If a product has managed to establish an emotional connection with the consumer, if the consumer associates the product with an emotional moment in their life or the consecration of emotion (for example, with engagement rings … no matter how much you give a diamond is an invention of the advertising industry), the price you are willing to pay for the product is higher.

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In other words, the price is no longer relevant when what comes into play are emotions. The power of love to drive spending The idea becomes clear when certain patterns of behavior and certain consumption elements are seen at certain specific moments in the consumers’ lives, although a study is now being added to the perception conducted by the University of Colorado Boulder. This study pitted consumers against discount products and non-discount products when it came to highly emotional purchases. Although objectively consumers recognized that the cheapest products were equally interesting and ‘desirable’ at the moment of truth they were not made with them. Between two products, consumers bought the most expensive. “People’s buying behaviors when they make purchases marked by love change because they feel that it is wrong to take savings measures,” explains Peter McGraw, the head of the study. Consumers not only avoid the cheapest products but also renounce behaviors or actions that are common in their ‘day-to-day’ purchasing processes.

Thus, they avoid being proactive in finding low prices and discounts or negotiating discounts. In the case of this specific study, purchases were closely linked to specific emotions and feelings towards others Brother Cell Phone List. Buyers had to focus on purchasing items such as engagement rings, urns for the ashes of a loved one, or birthday gifts. Shopping functioned, therefore, as a kind of objectification of love. What was bought was not just a product but a tangible representation of what it feels like. Emotions and high prices All purchases that are associated with the symbolism of love and that are seen as a graphic sample of it are much less limited by fluctuating prices. Consumers will always spend money on weddings or funerals because these products are associated with emotions and nobody wants to cut budgets on the emotional. But the truth is that it is not necessary to limit the weight of the emotions to only these purchases and these products.

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Emotions have a direct impact on the perception of things and on how much or how we are willing to change in them. If there is an emotional commitment, the price is no longer relevant and you are willing to pay more for it. There is, for example, the power of nostalgia as an element to boost spending . As a recent study showed, all those products that invite nostalgia manage to lower entry barriers in terms of spending. Consumers are much more willing to spend more when the product allows them to remember, when it is associated with nostalgia. And to that we must add that certain specific emotions can make you spend much more or buy products that you did not want to buy. Generating guilt, envy, fear or sadness can lead the consumer to buy products that they were not going to buy or that they were not thinking of buying (and do so forgetting the price). The same occurs with what is known in English as ‘season fever’, the ‘fever of the season’, which is when brands create scenarios highly marked by a consumer frenzy and an emotional spiral from which it is difficult to escape. This is what happens, for example, in the Christmas campaign. Consumers cannot avoid consuming these products because in reality they are always surrounded by them and the associated emotional spiral.