Emotional connection outlasts price comparison in business!

[CTO114]

People stay loyal to brands that made them feel something, even when a cheaper option exists.
Nike is not the cheapest sneaker. Louis Vuitton is not the cheapest bag. Do when do people still choose them even when a cheaper option exists?
That is because price was never really the deciding factor, the feeling the brand gave was.
There is a cheaper alternative to everything Nike sells. Yes! Adidas had one. Generic sportswear brands have dozens.
Yet Nike built itself into a brand worth over $30 billion, not by competing on price, but by convincing people that wearing the swoosh meant something.
Discipline...Ambition. "Just Do It" was never really about shoes it was about who you became when you put them on.

Look at the vase of Louis Vuitton, a basic tote bag can cost a fraction of the price. But people are not paying for the material. They are paying for what carrying that name says before they say a word. Status, Craftsmanship. A story status told and kept by the brand since 1854. This is more than just having the need to own luxury, it's pure emotion.

And then there is Bugatti. Nobody buying Bugatti compared it to a more efficient car,. Efficiency was never the point, owning one means something to the person driving it, and that feeling is worth more to them than any spreadsheet comparison ever could be.

Here is one uncomfortable truth for a lot of business owners; a global study surveying 4,000 consumers found that 68% of loyal customers said they would keep buying from their fav brand even if the price went up. Not because they didn't notice, but because emotional connection mattered more than the number. Emotional connection outlasts price, people stay loyal to brands that made them feel something, even when a cheaper option exists.
If your business is only competing on price, you are fighting a battle that never ends, because there is always someone willing to go lower,. But if your brand makes people real, pride, trust, belonging, ambition, you stop competing price altogether!

[freedomgo]

There is high market competition in terms of business, be it price or quality, but more than that, customer's happiness and satisfaction. Because having a business isn't just about sales and profits, but its also building connection to the people, emotionally, and even mentally. Its like sharing your real story by creating the brand you like and let the people connect on it because they are seeing a human identity in your own brand.

Business is not just all about price or quality advantage, it builds customer's experience, trust and emotional connection.

[goldkingcoiner]

Well that is basic marketing. You try to develop a need for your service or product by psychological means. But that alone means nothing if your product is not worth it and cults only last so long. In fact, hoping to create a cult-like following is like creating a meme that is popular around the world with hundreds of millions and maybe even billions of people. How often does that happen? It is not something easy to re-create.

[Majestic-milf]

 I agree. Emotion is not limited to being sentimental or whatever but the feeling of pride you get knowing you could afford to rock such a brand. There are cheaper brands and products which could provide better comfort and style but just cause these brands have built a name for themselves not only by being comfortable in their products but the prestige attached to it is what makes people look past the price and strive to get it.
 Humans are attracted by the feeling of knowing they were the first to own an expensive brand or product so when you see something new coming into the market, no matter how costly or rare it might be, you'd find someone striving to own it.

[Stepstowealth]

People stay loyal to brands that made them feel something, even when a cheaper option exists.
Nike is not the cheapest sneaker. Louis Vuitton is not the cheapest bag. Do when do people still choose them even when a cheaper option exists?
That is because price was never really the deciding factor, the feeling the brand gave was.

Sometimes it is usually not the feeling that they got from using the brand It is just the status that the brand gave them and how it made them feel over other persons. People like to feel expensive and like other people to adore them based on what they wear because people tend to attach respect and value to people based on what they were and how they appear, this is why you see people investing a lot in luxury brands because they want that status recognition. You will even find people choosing to buy the fake of luxury products for a price that can get them an original of another brand, a cheaper alternative.

[Bluedrem]

There were many people in the past who tried to show themselves rich, there are still people who try to show themselves rich, and there will be people in the past who will try to show themselves rich. If you examine the psychological aspects of people who do not use anything other than branded goods, you will see the same thing, they also use various famous brand products to show themselves rich. There may be some exceptions among them who use branded goods out of necessity.
And taking advantage of this, brand merchants are selling their brand value along with the price of others and customers have to pay the price of the brand product along with the brand value.

[Dr.Bitcoin_Strange]

Nike is not the cheapest sneaker. Louis Vuitton is not the cheapest bag. Do when do people still choose them even when a cheaper option exists?

People buy the products because they can afford it and because that's what fits their standard. Everyone have their financial capabilities and in terms of preference, people will always go for what they can afford. Someone can actually go for an expensive products because of how it make them feel but when this person is lacking funds to afford that products, they will make another choice for a less expensive products.

So, I don't think it's just about the feeling but rather financial capabilities is what is mostly being considered by those individuals. Take for example, if there are three people, and two among them are employed but only one person is earning high salary while one person is earning just small amount and the third person is not earning at all but rather dependent on someone else. Who do you think can afford anything he wants?  Yea, you got it right, people will consider price first if they are not too rich.

[Joeboy]

~snip~

Sometimes it is usually not the feeling that they got from using the brand It is just the status that the brand gave them and how it made them feel over other persons. People like to feel expensive and like other people to adore them based on what they wear because people tend to attach respect and value to people based on what they were and how they appear, this is why you see people investing a lot in luxury brands because they want that status recognition. You will even find people choosing to buy the fake of luxury products for a price that can get them an original of another brand, a cheaper alternative.

That's very much correct..Take iPhones for example, majority of folks will rather go naked just to have a phone with a half eaten apple at the back... Human being naturally have the inclination to always want to feel ontop of other and also to feel noticed and so even when they have a very good functional phone which is still offering the same use value and even a higher specifications than the iPhone, they are trying to get, they will still prefer thrashing that phone just to get an iPhone... The same thing applies to fashion-- companies like Gucci, Dolce & Gabbana, and the like has captured the heart and minds of various individuals and this is due to status and recognition that comes with using that products.. Companies have noticed this amongst its customers that is why it is very easy to see lots of copycats products and fakes of recognized brands.. But since folks are all about making people notice them and then associate them to a level of class, they will still go ahead to get this fakes so they could feel among...

[Donk1]

​I think everyone ought to have their own business strategy like an idea that will draw the attention of consumers, something that would make people feel comfortable. But not all businesses have that motivation to put effort into their business. You might make a similar product that is like other companies, but you can make it different even if your price is higher through advertising, packaging, and organizing, so that when people see your product, they will be amazed to the extent that the price of it wouldn't matter. They just want to buy it because they feel that yours is the best. But personally speaking, I doubt many businessmen and women would understand because all they focus on is profit and loss, not the consumer satisfaction... that's all.....

[Alex077]

If your business is only competing on price, you are fighting a battle that never ends, because there is always someone willing to go lower,. But if your brand makes people real, pride, trust, belonging, ambition, you stop competing price altogether!

You have pointed out the harsh truth of today's business world. When any business is based solely on discount or cheap price, customer has no loyalty or emotional attachment to that product. We may buy the product from him, but if we find that product at lower price elsewhere in future, we will go to there. And this is only reason why in order to be successful in long run, it is necessary to sell story and feeling before selling  product. Big brand do this. Because we make most decision based on feeling rather than logic.

Also, there is always latent desire among middle class people to improve their social status or at least to portray themselve as successful. They think that using product from brand like Louis Vuitton, iPhone or Nike give them kind of recognition in society. This makes them feel socially acceptable and successful. Many people think that using these high priced product increase their confidence. I don't know how true this is.

[Zlantann]

I agree. Emotion is not limited to being sentimental or whatever but the feeling of pride you get knowing you could afford to rock such a brand. There are cheaper brands and products which could provide better comfort and style but just cause these brands have built a name for themselves not only by being comfortable in their products but the prestige attached to it is what makes people look past the price and strive to get it.
 Humans are attracted by the feeling of knowing they were the first to own an expensive brand or product so when you see something new coming into the market, no matter how costly or rare it might be, you'd find someone striving to own it.

When even the poor want to use an iPhone, it becomes clear that price is not the factor in marketing. When a company builds a brand to the extent that people see it as classy, they will get loyal customers. Even when there are cheaper phones, people prefer to spend more on iPhones because they want to get that feeling of superiority

Others are just loyal to a brand because of its functionality. They are not emotionally attached to these luxurious brands; it's just their functionality. I am emotionally connected to some products, but I am always willing to buy an alternative if it offers a better deal.

[BIT-BENDER]

People stay loyal to brands that made them feel something, even when a cheaper option exists.
Nike is not the cheapest sneaker. Louis Vuitton is not the cheapest bag. Do when do people still choose them even when a cheaper option exists?

I won't agree with you on this one that people choose these brands(Louis Vuitton, Nike) and other brands as big as them based on emotional connections, especially when you believe people choose these brands even at their high prices over a cheaper option.
There is nothing emotional over choosing a very expensive option, people only choose these brands based on the status it has and the status they can get from it, not everyone can afford these brands so that feeling they can gat knowing what they wear is exotic even if sometimes it could be ugly and not actually their taste.

[ColdLava40]

People stay loyal to brands that made them feel something, even when a cheaper option exists.
Nike is not the cheapest sneaker. Louis Vuitton is not the cheapest bag. Do when do people still choose them even when a cheaper option exists?

Speaking of deciding factors, there are countless numbers of em and it's singular to every person. Some people prefer two different competitors to each other because of their taste or satisfaction.

Some prefer quality over quantity. They don't measure price or say because it's cheaper they should go for it. They want something that is worth their money on a long time span.

No one would be impressed spending money on something they don't enjoy even if has the cheapest price.

[SUPERSAIAN]

There were many people in the past who tried to show themselves rich, there are still people who try to show themselves rich, and there will be people in the past who will try to show themselves rich. If you examine the psychological aspects of people who do not use anything other than branded goods, you will see the same thing, they also use various famous brand products to show themselves rich. There may be some exceptions among them who use branded goods out of necessity.
And taking advantage of this, brand merchants are selling their brand value along with the price of others and customers have to pay the price of the brand product along with the brand value.

I once met a real estate agent who wasn't extremely wealthy, but he drove a brand-new, expensive car. When I asked him why, he said he bought it to look good to his clients. People project an image of wealth for their businesses, and it actually works in some cases. Of course, it's not fair to judge everyone who uses branded products this way.

The difference between being wealthy and appearing wealthy is precisely where this comes in. Sometimes people buy things not for themselves, but to see what others will think of them. The message it conveys becomes more important than the product itself.

[Odogwu-Blockchain]

If your business is only competing on price, you are fighting a battle that never ends, because there is always someone willing to go lower,. But if your brand makes people real, pride, trust, belonging, ambition, you stop competing price altogether!

Yes, read somewhere in a book where the owner of cool breeze was asked what makes their toothpaste special, she said, it's the feelings. Not that other toothpaste doesn't clean dirt, but the cool breeze feelings customers get convinces them that it's the best, customers buys feelings not the actual purpose of the toothpaste.

Even in crypto exchange, people keep using Binance because, it's the largest crypto exchange- that feelings of using largest crypto exc where CR is the brand ambassador- the feelings doesn't lie and go away, it stays, it attracts forever.