Consumer Stereotype: Expensive Equals Qualitative

In the minds of consumers there already are a lot of different stereotypes and variations of behavior at the market. Those variations, typical for most customers, are closely learned by salesmen. And they, who brought the main behavior models of consumer to light, get a reward for their hard work in the form of the highest profit.

Consumer's stereotype " Expensive = qualitative" is one of the most popular and the most used. On the one hand, it seems that the cheaper the product the better for the consumer. But on the other hand it appears that the word "cheap" in our mind goes together with association of poor quality. Who might be interested in buying low grade product? Exactly, nobody. That's why, among other product characteristics, customer more often tends to choose more expensive sample. Also, this "rule" will be followed only if the difference in price range is not essential. But that not essential price difference for the customer - is almost nothing, but for the salesman it is quite often a substantial profit gain.

This consumer's behavior model is quite understandable and explainable; therefore hardly anybody might have a problem grasping it. A very interesting example was described by R. Chaldini in his book "Influence : Psychology of persuasion". Jewelry store was going through a rough patch. So, the store owner decided to sell some of the non-seller items twice as cheap. But the shop assistant misunderstood her, and priced the items twice as expensive. To their surprise the items with new prices were sold out at one stroke. Consumer's instinct kicked in: "If it is that expensive it must be of high quality and very popular". Dubai legal translation from London Legal Translation is of the highest quality, but with an adequate price.

Of course, existence of this stereotype is realized by many, including customers themselves, but getting rid of it is not that easy.  And first of all it is explained by lack of desire or possibility to analyze all the information about the product. And it's no accident. The market nowadays is filled with all sorts of product of different quality and different characteristics. It is nearly impossible to learn all the examples thoroughly, especially considering, that we are shopping quite periodically. And relying on "independent" consultants at the store is not always right, surely, they need you to pay more. Also shop assistants can freely use stereotype "expensive= higher quality", when presented product is new to the big crowd of customers.

Getting rid of this behavior model all together for customers might be impossible. But the fact of how much people are ready to overpay for the product depends first of all on their education, especially economical.

Source: www.londonlt.com