Marketers have already begun using such insights to target consumers, flattering them by implying how valuable their time is in order to sell them products.
A recent Rolex ad asked: “Checking his watch costs Bill Gates $300 a second. What is your time worth?" features celebrities including Tory Burch and Will.i.am reading the paper with the tagline, “People who don’t have time make time to read The Wall Street Journal.”
In another experiment that should be of interest to brand managers, the researchers confirmed the potential power of a “sell busyness” strategy. Five hundred participants were asked to rate the status of consumers who used products associated with a busy lifestyle.
First, they showed participants a description about a consumer named Matthew who shopped at either an upscale grocery store or instead used grocery-delivery service Peapod. Though Whole Foods was perceived as more of a luxury brand, the participants rated the status of the Peapod shopper equal to the Whole Foods shopper, and both were rated above Trader Joe’s.
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