The evolution of brands like Michael Kors and Abercrombie & Fitch explains the downfall of some status symbols, according to a Wharton professor
|04/20/2019||Posted by BusinessMediaguide.Com under General World News||
- Status symbols evolve, and it’s all thanks to how social influence affects their popularity.
- If enough outsiders adopt a trend, action, or brand, they can change the meaning of its signal, according to Wharton professor Jonah Berger.
- Honda’s Element and Abercrombie & Fitch‘s brand messaging was put in jeopardy when consumers outside their target audience began using their products, Berger wrote in his book, “Invisible Influence: The Hidden Forces That Shape Behavior.”
- People will stop flaunting a status symbol when they think it begins to signify something else.
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