StudentShare solutions
Triangle menu

Egonomics - Assignment Example

Nobody downloaded yet
The nature and pattern of human consumption has evolved significantly over the years with a significant move away from goods produced under mass production (initiated by the car maker Henry Ford) towards specialized production and finally customized production. It is not surprising that the focus of many companies today is no longer just the provision of an exceptional quality product or service but one which caters to niches and has the capability of being adapted as per individual requirements of the customer. In other words, personalization and the creation of unique customer experiences has become the new source of gaining competitive advantage in the midst of largely undifferentiated products and services. To set themselves apart from the crowd, consumers are increasingly flocking towards products that others do not have. This is because, as humans, our behavior is more often “irrational” than rational and that various purchases cannot be explained in the light of aesthetics, utility of performance. In other words, the fact that most of engage in building and sustaining our self-esteem and self-confidence means that we often pay a price much higher than the actual worth of the product just for the sake of its exclusivity or limited availability. One such example is that of the recent launch of limited number of exclusive Apple iPhone 24 carat gold handsets that cost a fortune ($2853) to consumers (Trivedi).The pricing reflects the exclusivity of the product which, most consumers may find as a cushion to their self-image. Similarly, the LeBron James Limited Edition watch by Audemars Pigue is designed to cater to enthusiasts who would like to own this $51,500 watch (Adams) as a status symbol and to set them apart from the crowd. The high price reflects the (monetary) worth of the owner/consumer which is consistent with psychology that suggests that human beings are prone to engaging in impression management or casting favorable impressions of oneself in the society. Furthermore, considering that humans have imperfect knowledge about themselves, they constantly strive for feedback from others (through praise of appreciation) to boost their perception of themselves. An example is of a customer who is praised by his friend for wearing a $51,500 watch and who receives increased attention from others by virtue of this valuable possession. This can be referred to as “personal branding” or differentiating yourself from other brands or individuals. In other cases, the same may be considered as a “requirement” as per social benchmarks (Benabou and Tirole). For instance, an individual attending high profile dinner of delegates may consider it as a disgrace to his self-worth to wear anything less than a custom-made designer outfit or designer shoes. Keeping these trends in view, it is no wonder that companies are looking towards the personalization of their service offerings as well. This is commonly known as one-on-one marketing or micro-targeting whereby promotional tools such as the e-mail, internet, direct mail, special events and others are used to target customers with specific psychographic profiles or lifestyles. For instance, HSBC posted banner ads on its websites that were highly personalized meaning that the bank offered special “offers” depending on the account balance of the customer and the content ...Show more


Customer inserts his/her full name Date Egonomics At the heart of the magnanimous field of Egonomics lies the belief that ego isn’t necessarily bad. Authors of various books have compared Ego to free radicals in the human body…
Author : alittel
Read Text Preview
Save Your Time for More Important Things
Let us write or edit the assignment on your topic
with a personal 20% discount.
Grab the best paper

Check these samples - they also fit your topic

Youth Justice System in England and Wales in Comparison with another Country
Title: Youth Justice System in England and Wales in Comparison with another Country Introduction: Youth justice system or juvenile justice system is considered for the youth who commit crimes and thus contribute to severe criminal offences. The systems include such laws, rules, policies, as well as organizations that are mostly concerned in dealings with young criminals.
11 pages (2750 words) Essay
Project Management
The project manager is responsible for managing the budget and work plan and all Project Management Procedures (scope management, issues management, risk management, etc.)." (Ten Step, 2006). Unfortunately, this definition does not bring a concise and well rounded overall definition of what this position involves or covers, as there are also project managers in a variety of disciplines such as the definition for a Software Project Manager is somewhat different and more intricately entailed.
10 pages (2500 words) Essay
Marketing Communications strategies, tactics
The sender encodes the message which with reference to marketing communications is to create an advertising display or a sales promotion. The message is then sent to the receiver who decodes it by comparing it to frame of reference. The feedback loop is activated when the receiver responds to the sender which informs the sender about whether the message was received and how it was perceived by the sender.
5 pages (1250 words) Essay
Student fees are the natural and logical conclusion to the McDonaldisation of higher education. Critically examine this statement in terms of the traditional notion of a liberal education and what constitutes a university (see John Newman)
organization founded in 1997 “with the aim of promoting social mobility through education”, has expressed fears that “students could end up paying up to five times as much as they current do for degree course at England’s top universities if tuition fees are completely
11 pages (2750 words) Essay
Fictional childrens story about homelessness + critical component
Last time he ran, the pain was unbearable. His shoes had become too small for his feet. It had been months since he last saw his mother. Therefore, he
5 pages (1250 words) Assignment
What evidence that marilyn monroe did not kill herself
Her childhood was a nightmare because Marilyn and her mother were in constant financial crises and Marilyn spent most of her time in foster homes. Marilyn stepped into the modeling industry, from where she got boosted for film industry. She started
4 pages (1000 words) Research Paper
Sun Exposure
In so doing, patients need to be equipped with vast information about the functionality of the skin and the influence of sun exposure on the skin. Among the
1 pages (250 words) Essay
LGBT individuals are challenging the homophobic and transphobic structures of the monotheistic religions. Discuss this statement in relationship to only 1 of the following religions, Judaism or Christianity or Islam. Be sure to use primary as well as
Generally, the conservative and purists among the world’s largest religions such as Christianity and Islam are discriminative and reject homosexuality in its
1 pages (250 words) Research Paper
Judicial Process Article Review
at youths accused of violation of the law before reaching the age of eighteen years are to be subjected to juvenile courts original jurisdiction, however, the youths accused of violation of the law after or on the day of their eighteenth birthdays have to be processed and
2 pages (500 words) Research Paper
How Google motivate their employees
In terms of employee numbers, Google has over 50000 employees around the globe. Their numbers seem to be rising as the company acquires new markets and venture. With a market of over several millions in the globe, the company needs to utilize motivated workforce. The first aspect of Google motivating its employees concerns culture management.
7 pages (1750 words) Essay
Comments (0)
Click to create a comment
Let us find you another Assignment on topic Egonomics for FREE!
Contact us:
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • The Newest Essay Topics
Join us:
Contact Us