Being a psychology major I am alway interested in what motivates consumers to buy and what attracts individuals to certain items. There are many aspects that attracts consumers such as looks, technology, hype, costs, etc. It peeks my interests that many people like to be unique and to stand out. Now it's understandable that as individuals they like to have their own sense of worth and not to be blended with others, however the extent some will take that is fascinating. Some consumers may spend as high as 800-1000 dollars for a brand new Iphone when there are phones that are much cheaper than that and will have a similar performance.
This article gives some insight on why consumers would choose to want to buy expensive products over similar, but cheaper products. It basically says that the act of buying something expensive despite the object increases happiness in the individual because of the experience, however overtime the object will reveal itself to be just like any other object.
Also this Ted talks gives a great explanation to what marketers use to motivate consumers.
Essentially it is saying that companies use their knowledge of how the human brain works to make consumers want their product through the use of specific advertising that makes the consumer sub cautiously want it.
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