Reference no: EM133401249

I was wondering if you knew how does the choice-supportive bias phenomenon work in favor of companies and their branding? Do people tend to defend the choices they make, which makes them more likely to rebuy products they use, or do users of one brand tend to criticize users of competing brands. Or does it work in consumer markets but not business markets, or does it effectively insulate consumers against all branding messages from other companies, making in un likely they will ever switch brands?

Also when people continue to buy and use a product solely because they dont want to "throw away" the time and money they have already invested in it. Would this be ego preservation, the loss-minimization fallacy, asset preservation, cost investment fallacy or the sunk cost fallacy?

Additionally how does branding reduce perceived risk for consumers? Do they use a strong brand image can overcome poor product performance, broken promises, and even illegal behavior by companies? or do they brands increase the anxiety of choice for consumer by narrowing the perceived set of options. Or does the truth in advertising laws prohibit companies from making false claims about branded products. Or once they have established trust in a brand, consumers are liekly to perceive less risk in continue buying it?

Also if a brand has acquired such a strong association with quality in the minds of consumers that they are automatically assuming a new product from this company will also be of high quality, these people have a ____ to simplify their buying choice. Would it be involvement metric, evoked set, habitual choice, purchase rule, or heuristic.

Lastly which of these is a way owners group other brand communities help companies build and maintain brand loyalty? Do they social identification so powerful that it encourages people to use products they dont even like. Or do they support forums and social media to reduce consumer support hassles. Or in todays antagonistic society, choosing brands is like choosing sides. Or the emotional benefit of social identification that people get from belonging to a group males them tend to support and defend the group.