People don’t want to feel bad amongst the people they often move around. Most people will pay more for a product/service than other brands for one of the following reasons; if they think it makes them look:
- Long-term thinker
All these comparisons would vary from person-to-person depending on the group they move around. Hence, their buying decisions.
This is why most effective marketers of expensive, luxury brands focus their ads on the emotional aspects of the benefits that the product brings, rather than specifications of the product/service.
2 Replies to “Why do people pay more for something?”
of course, emotions are easier to play with than logic, isn’t it always!? 🙂
not always, but when dealing with consumers at a retail level, this strategy often works better