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Why people want what they can't have

Whether it's someone who's already in a relationship, a job for which we didn't make the shortlist, or an item we want that never seems to be in stock anywhere we look, human beings want the unobtainable -- that which is difficult (if not impossible) to make ours. Why does this happen? We assign a higher value to things and people that we deem as being in high demand. If something is too easy to snag, we're led to believe that no one else wants it, so we'd be settling for less by making it our choice. Is it any wonder that stores are able to lure customers with advertisements that say "available for a limited-time" and "while supplies last"? Are those products really in short supply? My guess would be no -- at least not all the time. Retailers capitalize on the fact that people have an aversion to feeling left out. The thought of someone else possessing an item they want for themselves drives people to shell out their money, often in la...

Beware of overspending this holiday season!

As someone who studied and works in marketing and consumer psychology, I know full well how tempting it can be for consumers to spend money they don't have. You walk into a store and see shoes to die for that would look great with the spaghetti strap dress you bought moments ago. Or, you see a shirt you know your brother would dig, a pair of earrings that your mom will go gaga over, and a tool set that has your uncle's name all over it. Whether you're buying gifts for yourself or for friends/family, it makes sense to scour the internet and newspaper for the best deals you can find. Still, if you see that if your shopping list could easily translate into hundreds (if not thousands) of dollars in credit card debt, you'd be wise to pare it down a bit. You can start by only buying one gift per adult. Better yet, why not get one gift per couple? Things like towel sets and silverware sets are items for the home that anyone can use. You may be tempted to buy the li...

Are you swayed by celebrity endorsements?

Surprisingly, many consumers are. If you've been following the presidential election, Hillary Clinton has gotten the backing of high wattage celebrities including Katy Perry, Lady Gaga, Beyonce, Jay-Z, Bon Jovi, Bruce Springsteen, and Lebron James. And you've likely lost count of the many advertisements you've come across -- whether on TV or in magazines -- where a celebrity promotes a brand of lipstick, shampoo, or jeans as if it were the best thing since sliced bread. But are such endorsements effective? That, of course, depends on the person. If you're a hardcore Paty Perry fan, for example, you'd probably be more likely to buy a product she endorses or vote for Hillary Clinton. Since I'm not a big fan of any of the high-profile celebrities endorsing Clinton, it didn't make me any more inclined to vote for her. Celebrities don't hold much sway over my purchasing decisions unless they're people I genuinely admire and respect. For inst...

Why wanting things makes you HAPPIER than owning them

Have you been yearning to buy a new Mercedes for years?  Maybe you’ve thought about stopping by your local Macy’s store on the way home from work and snagging that posh Michael Kors watch you spotted there last month.  Or, you’ve contemplated replacing a dingy pair of sneakers ensconced in your closet with a new set of Sketchers you instantly became smitten with after seeing them in a newspaper ad.  According to psychologists, this zeal to acquire products is only ephemeral, as consumers derive more pleasure from desiring them than they do from actually owning them. Human beings are known to long for the unobtainable – whether it’s an old flame who got away after high school or a snazzy smartphone that’s a bit out of our price range. Once the object is ours, that seemingly unshakable sense of yearning and excitement that we felt earlier dissipates, and it does not resurface until we set our sights on a new object of desire. If you think about it, this makes complete sen...

Reasons why we buy stuff we don't need or use

Have you noticed that we tend to derive more pleasure from pursuing a product than actually using it? It's very much like dating and relationships. Some people feel that chasing after a love interest is more exhilarating than actually locking in and dating the person. I majored in marketing and minored in psychology, so I know full well that emotions play a pivotal role in consumer behavior. Emotions, stirred up in part by the advertisements that assail us on a daily basis, are what drive us to buy stuff -- and that includes products that we may neither need or use. Whether it's the sense of accomplishment that comes over us when we take advantage of a "buy one, get one free" sale or the prospect of buying something that can help us shed weight, look younger, or land more dates, purchasing things gives us an emotional high not unlike that experienced when kissing someone for the first time or receiving your first paycheck. But once you have the object of your de...

Understanding People - Quote of the Day

I am pleased to share with you the first of many Quotes of the Day. This is just one of several new features I will be integrating into the blog in the new year. Without further ado, the first Quote of the Day comes from Benjamin Franklin (1706-1790), who, aside from being one of the Founding Fathers of the United States, was a respected writer, printer, inventor, scientist, statesman, and diplomat. "If you desire many things, many things will seem few." - Benjamin Franklin I love the meaning behind this well-known quote by the revered Franklin. I take it to mean that the more you yearn for material things, the less you'll be satisfied by them. You'll want something, grow bored of it, and angle for the next thing that grabs your interest. Rinse and repeat -- it's a vicious cycle that never ends. Unfortunately, we know far too many people that become locked in the tight grip of consumerism. Many factors are to blame, including advertisements and promotions ...

Consumer Behavior: Why are we so influenced by advertising?

Judging from the purchase behavior of some of my friends, family members, and coworkers, it's apparent that some people are heavily influenced by advertising. I've lost track of the many times in recent weeks that people around me have admitted to being swayed by an ad in a newspaper or magazine, a banner ad on a website, or ubiquitous TV commercials. And it's not as if they feel compelled to purchase things they really need; usually, they already have heaps of whatever it is they're looking to buy stocked in their drawers or closets -- be it cologne, shirts, or shoes. This is precisely why I studied marketing and psychology -- so that I can be impervious to the advertisements we're assailed by daily and immune to the underhanded tactics that salespeople at mobile phone stores, car dealerships, and other places attempt to employ. I recommend that people only let their guard down when it comes to advertisements for products they really need -- the kinds of produc...

Looks don't matter -- or do they?

You hear it time and time again: Looks don't matter; it's the inside that counts. Unfortunately, that's just a bunch of malarkey. If looks don't matter, why is it that: We flinch at the sight of a "disgusting" rat or roach, but we go gaga over kittens and puppies Employers generally choose better-looking job candidates for positions Studies show that good-looking people are perceived as friendlier and more intelligent than less attractive ones Women spend hundreds if not thousands of dollars each year on plastic surgery, makeup, and other methods of "beautification" Attractive individuals -- including models, athletes, and celebrities -- pervade all kinds of advertisements, including magazine ads and commercials When something -- or someone -- is pleasing to the eye, we naturally gravitate towards it. Saying that it's the inside that counts is true and certainly noble, but society has become far too shallow to really live by that mo...