Framing Effect And Its Impact On The Company Brand Strategy Formation
It is a critical moment to stand apart from the crowd in today’s global market and the main reason is that the companies are no longer competing on a local stage. The global economy became the main stage of the competitions nowadays. Business is struggling for each separate buyer’s attention and trust, and unfortunately, it is no matter if this is online or offline.
Nowadays market is oversaturated with different goods and services and that’s why we have to apply more and more efforts to pay potential client’s attention to our company proposal.
The other words we should do all possible to pay potential client’s attention to us, help him to like us, make him believe us and make a purchase. Of course, the buyer should receive the satisfaction and return to us again and again and ideally recommend us.
Things are obvious! However, how can we influence our client’s decision-making process?
Brand Strategy and Neuromarketing
Here is better to refer to non-verbals and subconscious influence. The main idea here is that the decision-making process results may be automatic.
The main purpose at this stage is habit development. We need to make the client solve a certain problem by means of using only our brand product. We make him constantly return to current product and only to it.
A good example here is a person, who always buys a certain tea brand. The likelihood of purchasing another tea brand is almost zero if this process became an unconscious habit.
Habit — is a significant tool in the struggle for buyers and none company should disregard it.
Brand Strategy And Buyers Psychology Understanding
The most difficult for the majority of the entrepreneurs is to know and understand their target audience.
The great example is when the client plans to get from place A to place B. For this purpose, he needs a car. So, car choosing is the client’s current problem and he needs to solve it. What car will he choose?
Here the brand starts work and specifically its message and position.
Brand content helps the company to reach the target audience. It signals clearly to the potential clients, informing them that we know about their needs, realize problems and understand wishes.
All these ensure the target audience that we have a ready decision for them and the only thing the person should do is to press the button.
Framing Effect In The Brand Identification Process
Framing Effect is usually used by the big and middleweight companies. It is unconditional for the big companies and even new start-up are also working in this direction trying to gradually build their brand structure.
Due to the brand identity, the company influences significantly on the target audience by means of the framing effect.
The key scheme from Daniel Kahneman’s the Nobel speech is represented below. It may seem a weird thing to use the old optical illusion, however, this was not about representing the illusion. The main idea was showing our brain work and framing effect demonstration. We may follow how the different background colors change our comprehension of the small squares colors.
Each brand has its own product (represented as a small, grey square on suggested sample). These 2 grey squares visually look different due to the background color, however, in fact, they are identical. The framing effect shows the brands influence on the decision to buy. Actually, it acts as the background for the product and influences buyer’s impression from it. Within the internet, these are website design, content, newsletters etc. All these items visually differentiate the company from the competitors and are the foundation of the visual company philosophy.
There is a stereotyped view that brand products, for some reasons are better than ordinary products.
People blindly trust brands giving preference to them, no matter that in fact, the products are 100% identical. The brand product always seems tastier, more reliable and effective.
Framing Effect shows the real brand value in product selling and as a rule, the customer is ready to pay more for objectively the same products.
However, the framing effect works in conjunction. Let’s imagine Starbucks with its cozy cafe interior, good music, self-care in the majority of cases and if we like all above mentioned and the atmosphere in general — everything we buy here will seem us to be incredibly tasty!
The tastiest coffee in the world and the tastiest cakes, however, the reality is that all this is the brand work. Other words, we are starting to «overthink» about the tastiest coffee in the world and about the fact that it really costs the money we paid for it.
But if we remove the background (brand visual identity), the result will be a bare product and usually, its quality is equal to other similar products.
Without the background, we see absolutely similar squares but when we are placing them on the background they seem differ again.
The brand is a «product background» and it influences invisibly on the buyer’s product comprehension, as a result, increasing the product value for the buyer.
No doubts the framing effect works magically!