Fortune Favors The Bold

Why We Buy

heyitsnoah:

The data here is sort of interesting, but I’m not sure I buy the premise:

Ask Americans if they are willing to spend more to buy American-made products, and nearly half say they are often willing to do this. But in the latest Economist/YouGov Poll, the country where a product is made trails price, quality, and even convenience, as an important factor in consumer decision-making. The public gives even less importance to a product’s brand, its impact on the environment, or the political leanings of the company that produces it.

Basically it breaks down that 76 percent say the price of the product is extremely important, 85 percent say quality is extremely important and only 31 percent say the brand is extremely important. I think the price thing is probably right, quality sounds like something people like to talk themselves into (if we cared that much then why do we buy so much Ikea furniture?) and brand seems like a classic case of people not understanding their own motivations. Sure, it might not seem like it, but when someone walks down the aisle and buys Crest instead of store-brand they’re choosing brand over quality and price and probably not even thinking about it. In fact, to most people I’d guess that brand equals quality.

[via Marginal Revolution]

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