There’s is no better way to stay current and keep your strategy up to date then by reading scholarly journals. Today’s selection covers the role that power plays in valuation by consumers. It’s a heavy dose of consumer psychology, so it may be best to break this down into two or three sessions.
The abstract will give you a brief summary, full article available via the link.
The current paper reviews the concept of power and offers a new architecture for understanding how power guides and shapes consumer behavior. Specifically, we propose that having and lacking power respectively foster agentic and communal orientations that have a transformative impact on perception, cognition, and behavior. These orientations shape both who and what consumers value. New empirical evidence is presented that synthesizes these findings into a parsimonious account of how power alters consumer behavior as a function of both product attributes and recipients. Finally, we discuss future directions to motivate and guide the study of power by consumer psychologists. © 2011 Society for Consumer Psychology. Published by Elsevier Inc. All rights reserved.