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Executive Education News
HOW'S YOUR LITERACY OF CHINA?
October 22, 2010
IMD-China history-As the Shanghai Expo is set to close, we are all reminded once again that in the 21st century, China will play a very significant role.
IMD MBA 2010 Federica Montecchi is ready to combine business acumen and social responsibility
October 22, 2010
IMD MBA 2010 Federica Montecchi is ready to combine business acumen and social responsibility
IMD organizes TEDx event featuring an introductory lecture by Jean-Pierre Lehmann
October 21, 2010
IMD organizes TEDx event featuring an introductory lecture by Professor Jean-Pierre Lehmann
IMD welcomes master bridge-builder Nadine Hack as Executive in Residence
October 20, 2010
IMD welcomes master bridge-builder Nadine Hack as Executive in Residence
CSM Open Forum addresses challenges in communicating sustainability strategies
October 15, 2010
CSM Open Forum addresses challenges in communicating sustainability strategies
Professor Georges Haour authors new book: “From science to business"
October 15, 2010
Professor Georges Haour authors new book
THE MULTI-FACETED BENEFITS OF UNIVERSITY-FIRM PARTNERSHIPS
October 15, 2010
Unemployment – IMD – We seem to have a lot of crises on our hands at the moment: the economy, food, energy, health and, in OECD countries, an aging population.
WHY THE BEST EXECUTIVE TEAMS SOMETIMES MAKE THE WORST DECISIONS
October 15, 2010
Group think – IMD – Almost exactly two years ago the economic tsunami descended on the world. Its causes were manifold and complex.
IMD Professor and TSC Program Co-Director Cyril Bouquet featured in the Financial Times
October 13, 2010
IMD Professor and TSC Program Co-Director Cyril Bouquet featured in the Financial Times
Latest Research Demonstrates that Consumers Love Underdogs
October 12, 2010
Now what would being an Underdog have anything to about the Executive MBA? Great question! Read on and you will be pleasantly surprised. Here goes:
An interesting consumer trend researched in-depth by Harvard Business School professors demonstrates that American buyers overall tend to favor what are perceived as "underdog"brands. A recent Miller-McCune article explained the research, showing how products thatportray themselves as having overcome odds despite initial setback appeal to consumers on avery deep level.
The researchers–Neeru Paharia of Harvard University, Anat Keinan of Harvard BusinessSchool, and Jill Avery of the Simmons School of Management–found that Americans in particular are drawn to such legends of small beginnings. These legends tend to predominate in more individualistic societies like the United States precisely because people are often judged onindividual merit.
Some examples cited in the article are Nantucket Nectars, whose bottles say, "We started Nantucket Nectars with only a bottle and a dream", as well as Clif Bars, which claim that "In 1990, I lived in a garage with my dog, skis, climbing gear, bicycle, and two trumpets."
Even big name brands proffer versions of these underdog myths when alluding to their beginnings, like Apple. Why, some would ask, is this consumer preference so strong? The researchers suggested that despite realities, a very large portion of consumers self-identified as "underdogs" among their groups, whether such groupings were based on financial status,ethnicity, friends, or others of their native country.
And because consumers tend to buy products that are aligned with their perceived identities, and they will avoid products which they feel do not accurately portray who they or who they would like to become in the future, the "underdog" status carries much currency. Interestingly, this empathy with underdog brands is not as successful in Asian societies, and the researchers speculated that this is so because such societies construct identity based on collectivity, in which a sense of self is not as strongly developed.
The latest trends are remarkable in that they somewhat contradict previous research asserting that consumers will purchase products in an effort to enhance their perceived status. In short, there was a tendency to assume that consumers would go for the "top dog" and not the "underdog".
For those currently completing a business degree, especially an executive one, it is critical to remain on top of such consumer trends. This is so simply because when founding or leading any company, success is often dependent on carefully constructing and guiding consumers'perceptions of your business. With this latest research, it's probably best to stick with age-oldsaying–less is more.
I want to thank our guest post contributed by Angelita Williams, who writes on the topics of online college courses at: http://www.onlinecollegecourses.com/. She welcomes your comments at her email Id: angelita.williams7@gmail.com. For more information on the Executive MBA please visit www.EMBAWorld.com.