Why luxury brands appeal to our human nature
Ever since our caveman ancestors were trading rocks for food, humans have been trying to get the best bang for our buck. But no matter how good our haggling skills are, we as humans do have a certain weakness for high-priced luxury items.
In fact, one of our fatal flaws is assuming that higher price means higher quality.
There are countless studies proving humans believe pricier items are better, even if the items are exactly the same.
While we may fall for this age old trick time and time again, apparently Capuchin monkeys aren’t as superficial.
According to a new study by Yale, Capuchin monkeys share many of our own irrational qualities but they’re not fooled by fancy branding.
In one of the experiments, researches taught the monkeys to choose branded food based on price.
The study revealed that monkeys don’t have the same bias toward high-priced items as humans.
“We know that capuchin monkeys share a number of our own economic biases. Our previous work has shown that monkeys are loss-averse, irrational when it comes to dealing with risk, and even prone to rationalizing their own decisions, just like humans,” said Laurie Santos, a psychologist at Yale University and senior author of the study.
“But this is one of the first domains we’ve tested in which monkeys show more rational behavior than humans do,” she went on to say.
So if you’re selling high-end luxury items, consumers could be persuaded to go through with the purchase just by looking at the price tag – but a content strategy designed to appeal to them will also be helpful.
To add a whole new element to the complex human inner-workings of human behaviour, people also feel more comfortable buying products if they feel like they have no choice in the matter, according to a study that appeared in the Journal of Consumer Research,
In one of the studies, participants were given, or told to choose, a book that was of an entertaining or educational nature.
Participants who chose or were given an educational book experienced feelings of guilt, creativity and vitality for their decision.
But people who were given an entertaining book felt far less guilty than those who freely chose it, as well as experiencing high levels of creativity and vitality.
Understanding how people view your brand, as well as knowing how to appeal to their basic needs and their guilty pleasures, is a crucial part of content marketing and something definitely worth pursuing.
Posted by Dylan Brown