Marketing Assignment

Marketing Assignment

Chapter 10, Case one

When people value their social status, they tend to adopt the living standards of their peers and neighbors. This is the main reason someone most probably purchases the same brand of car purchased by the neighbor so that there may not be any differences between the two. In everyday lifestyle, competition is tough. Everything can be considered insufficient when we try to copy others.

Another reason why this scenario takes place is the Recency effect. This effect is that everything we encounter the most recently is the thing remembered the most because it happened recently. This means ...