Have you ever bought a product simply because everyone else did? Or picked a lesser-known company because they’re looking to challenge the industry leader?
If so, you may have experienced the bandwagon or underdog effects.
The bandwagon effect refers to the tendency to want to act in line with what most people are doing. On the other hand, the underdog effect refers to supporting something such as a product or person, because they are perceived as a challenger, or as being inferior in some way.
In this course, you’ll learn how both effects can influence decision making and the ways companies utilize them in marketing. You’ll also learn how the bandwagon effect relates to the diffusion of innovation theory and how new products and services are adopted throughout a market.
Take this course and see why the bandwagon and underdog effects should be considered when making decisions about your brands, products, services, and more!