logo
  Join        Login             Stock Quote

Buying Good-Looking Products Makes People Feel Better About Themselves And More Open-Minded, Says University of Miami Study

Friday, July 6, 2012 10:14 AM


CORAL GABLES, Fla., July 6, 2012 /PRNewswire-USNewswire/ -- Purchasing an attractive product makes consumers feel good about themselves and opens the mind. That is the key finding of a new study on self-affirmation and product choice out of the University of Miami School of Business Administration.

(Logo: http://photos.prnewswire.com/prnh/20110906/DC62866LOGO )

In the study, the results of which will be published in the August 2012 edition of the Journal of Consumer Research, participants were asked to select among different lamps and calculators, after which the researchers measured their self-esteem. The study found that when participants selected a more aesthetically-pleasing lamp, compared to a better-functioning but perhaps boring-looking lamp, they felt better about themselves and, in effect, became more open-minded to considering new points of view. While people tend to go through life with a biased view of information, discrediting ideas that might suggest something negative about themselves or their values, by merely choosing a good looking product, consumers become more open-minded and open to ideas, even those that might suggest they have made a mistake.

"Behavioral economists and psychologists have long known that people tend to throw 'good money after bad' or 'stay the course,' meaning they continue to invest in something even after an initial investment doesn't give them the effect they desire," said Claudia Townsend, an assistant professor of marketing at the University of Miami School of Business, who conducted the research with Sanjay Sood of UCLA. "What our research shows is that purchasing an attractive item causes a person to feel better about themself and this 'affirmation effect' frees them up, mentally, to admit to the error in their ways. The result is that they no longer need to justify their initial bad investment with additional funding and consequently make better decisions."

About the University of Miami School of Business Administration
The University of Miami School of Business Administration is a leading business school, offering undergraduate business, full-time MBA, Executive MBA, MS, PhD and non-degree executive education programs. One of 12 colleges and schools at the University of Miami, the School is located in a major hub of international trade and commerce and acclaimed for the global orientation and diversity of its faculty, students and curriculum. The School delivers its programs at its main campus in Coral Gables as well as at locations across Florida and abroad. More information about the University of Miami School of Business Administration can be found at www.bus.miami.edu.

 

 

 

 

SOURCE University of Miami School of Business Administration

(Source: PR Newswire )
(Source: Quotemedia)

Advertisement
Advertisement



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.