Thursday, July 24, 2008

Best in Business

If You Like It, It Must Be Uncool

Posted January 9, 2008

There's a fine line between chic and passé, especially when it comes to products that communicate identity, such as music and clothes. Consumers tend to abandon these products when they reach the mainstream or are adopted by certain social groups, found Jonah Berger of the University of Pennsylvania and Chip Heath of Stanford University. In Where Consumers Diverge From Others: Identity Signaling and Product Domains, appearing in the Journal of Consumer Research, the researchers asked Stanford undergraduates to name their favorite products in categories such as cars, clothing brands, dish soaps, and bicycle lights.

Weeks later, they were given information suggesting that their preferred brands were also popular with other students. When retested, students tended to change their preferences but typically only in "identity relevant" categories such as cars, clothing, and music. Another study found that students' favorable opinions of a digital music player declined when they learned that the player tested highly among business executives.

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20-Something Guide

Financial planning for twenty somethings

The Guide to Being a Grown-Up: 20-Something Financial Advice

Figuring out your finances doesn't have to be tough for 20-somethings. Learn more about careers, budgeting, investing, and paying off your debt.

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Best Places to Retire

America's Best Places to Retire (Charlie Archambault for USN&WR)

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