Marketers are pretty good about translating the things we buy into statements about ourselves. Instead of just owning an object for its current functionality, an additional layer of social status has been interjected into the objects we own. This process can be good or bad. We often identify with our purchases or, on the other extreme, will choose not to purchase something because of the identification associated with it.
Popular items tend to have a polarizing effect. Apple spent millions of dollars on marketing their products to a (former) niche that suggests ‘think differently’. The strategy paid handsomely and their products have reverberated through the tech and popular sectors. However, with their success, many people (especially the uber-hipsters in my town) will no longer buy the popular products due to the very lack of uniqueness.
Despite the mental push back it takes to buy the popular, I often find that my economizing ways lead me to buy objects that are recognizable and easily obtained. Even if there are superior products available, it often makes sense to buy the popular for a variety of reasons. The benefits of buying the popular include having a well-developed (large) support community, high liquidity when buying or selling, availability of parts and accessories, and easy access to information when trouble arises. Although this notion could be extended into plenty of other areas, I’ll keep the focus on larger consumer purchases (cars, technology, housing) to make the point more succinct. Continue reading When It Makes Sense to Buy The Popular