Lovemarks Campus

One of repercussions of lowering prices is the loss of brand loyalty. Shoppers who are constantly looking for bargains will make brand choices based on price. Here is where we make the case for Lovemarks as not only an approach to branding and advertising, but a smart business choice from a financial perspective.

In this study, 440 students aged 18 to 25 years were surveyed to understand the relationship between consumers’ emotional attachment and willingness to pay premium prices for their favorite sportswear brand.

Do expensive wines really taste better? According to a study (2008) by the California Institute of Technology and Stanford University, wine tastes better if people think it’s expensive. Hugh Johnson, a wine writer for The Sunday Times said that the same type of reaction is common for people viewing designer label clothing.

Neuroeconomic researchers at the University of Pennsylvania have used fMRI techniques to identify a specific part of the brain, the ventromedial frontal lobe (VMF), as responsible for making decisions involving value.