Brand Personification and Money: The Effect of Collective vs. Solo Brands on Monetary Decisions
Keywords:
brand anthropomorphism, brand personification, brand trust, buy now pay later, monetary decisions, consumer-brand relationshipAbstract
For decades, marketing professionals have crafted brands with human-like traits, like Mr. Clean and Tony the Tiger, to create emotional connections and influence buying behavior. Scholars have explored brand personification, examining its effects and mechanisms. This research investigates anthropomorphic collective branding, which involves using multiple anthropomorphized brand entities to create a collective brand presence. Two experiments revealed that consumers evaluate collective brands more positively than solo ones, particularly in financial decisions such as Buy Now Pay Later services or donations. Trust was found to mediate this effect, enhancing positive evaluations. These findings contribute to the understanding of brand anthropomorphism, highlighting the effectiveness of collective branding strategies in specific decision-making contexts. Future research could explore how these strategies influence consumer behavior in diverse financial settings, like gambling or other financial transactions. For marketing professionals, this study emphasizes the nuanced impact of different types of brand anthropomorphism on brand evaluation, depending on the consumer decision context. Leveraging these insights can help optimize branding strategies to better engage consumers.
References
Aaker, D. A. (1996). Measuring Brand Equity across Products And Markets. California Management Review, 38(3).
Adams, P., Hunt, S., Palmer, C., & Zaliauskas, R. (2021). Testing The Effectiveness Of Consumer Financial Disclosure: Experimental Evidence From Savings Accounts. Journal of Financial Economics, 141(1), 122-147
Agarwal, S., & Mazumder, B. (2013). Cognitive Abilities And Household Financial Decision Making. American Economic Journal: Applied Economics, 5(1), 193-207
Aggarwal, P., & McGill, A. L. (2007). Is That Car Smiling At Me? Schema Congruity As a Basis for Evaluating Anthropomorphized Products. Journal of Consumer Research, 34(4), 468-479.
Aggarwal, P., & McGill, A. L. (2012). When Brands Seem Human, Do Humans Act Like Brands? Automatic Behavioral Priming Effects Of Brand Anthropomorphism. Journal of Consumer Research, 39(2), 307-323.
Amar, M., Ariely, D., Ayal, S., Cryder, C. E., & Rick, S. I. (2011). Winning The Battle But Losing The War: The Psychology Of Debt Management. Journal of Marketing Research, 48(SPL), S38-S50.
Ashraf, S., Robson, J., & Sekhon, Y. (2015). Consumer Trust and Confidence in the Compliance Of Islamic Banks. Journal of Financial Services Marketing, 20, 133-144.
Bankrate. (2022). Survey: 56% of buy now, pay later users have experienced issues like overspending and missing payments. Retrieved from https://www.bankrate.com/loans/personal-loans/buy-now-pay-later-survey/
Bauer, R. A. (1967). Consumer behavior as risk taking. Marketing: Critical Perspectives on Business and Management, 593, 13-21.
Baron, R. M., & Kenny, D. A. (1986). The Moderator–Mediator Variable Distinction In Social Psychological Research: Conceptual, Strategic, And Statistical Considerations. Journal of Personality and Social Psychology, 51(6), 1173.
Braxton, D., & Lau-Gesk, L. (2020). The Impact of Collective Brand Personification on Happiness and Brand Loyalty. European Journal of Marketing, 54(10), 2365-2386
Çal, B., & Lambkin, M. (2017). Brand Equity of Stock Exchange as a Mediator in Financial Decisions. Journal Of Financial Services Marketing, 22, 14-23.
Calderón-Fajardo, V., Molinillo, S., Anaya-Sánchez, R., & Ekinci, Y. (2023). Brand Personality: Current Insights and Future Research Directions. Journal of Business Research, 166, 114062
Cialdini, R. B. (2009). Influence: Science and practice (Vol. 4, pp. 51-96). Boston: Pearson education.
Chandler, J., & Schwarz, N. (2010). Use Does Not Wear Ragged The Fabric Of Friendship: Thinking Of Objects as Alive Makes People Less Willing To Replace Them. Journal of Consumer Psychology, 20(2), 138-145.
Chaudhuri, A., & Holbrook, M. B. (2001). The chain of effects from brand trust and brand affect to brand performance: The role of brand loyalty. Journal of Marketing, 65(2), 81-93.
Coelho, F. J., Bairrada, C. M., & de Matos Coelho, A. F. (2020). Functional Brand Qualities and Perceived Value: The Mediating Role of Brand Experience and Brand Personality. Psychology & Marketing, 37(1), 41-55.
Consumer Financial Protection Bureau. (2022). Buy now, pay later: Market trends and consumer impacts [Research report]. https://files.consumerfinance.gov/f/documents/cfpb_buy-now-pay-later-market-trends-consumer-impacts_report_2022-09.pdf
Delbaere, M., McQuarrie, E. F., & Phillips, B. J. (2011). Personification in advertising: Using a visual metaphor to trigger anthropomorphism. Journal of Advertising, 40(1), 121-130.
Delgado-Ballester, E., & Munuera-Aleman, J. L. (2005). Does brand trust matter to brand equity? Journal of Product and Brand Management, 14(3), 187-196.
Dogra, P., & Kaushal, A. (2022). The Impact of Digital Marketing And Promotional Strategies On Attitude and Purchase Intention Towards Financial Products and Services: A Case Of Emerging Economy. Journal of Marketing Communications, 1-28
Du, R. Y., & Kamakura, W. A. (2008). Where Did All That Money Go? Understanding How Consumers Allocate Their Consumption Budget. Journal of Marketing, 72(6), 109-131.
Durante, K. M., & Laran, J. (2016). The Effect of Stress On Consumer Saving and Spending. Journal of Marketing Research, 53(5), 814-828.
Eskine, K. J., & Locander, W. H. (2014). A name you can trust? Personification effects are influenced by beliefs about company values. Psychology & Marketing, 31(5), 362-372.
Estelami, H. (2009). Cognitive Drivers Of Suboptimal Financial Decisions: Implications For Financial Literacy Campaigns. Journal of Financial Services Marketing, 13, 273-283.
Fang, Y., Qureshi, I., Sun, H., & McCole, P. (2019). Trust building in electronic markets: An empirical study of the role of rating systems. Electronic Commerce Research and Applications, 35, 100854.
Fornell, C., Rust, R. T., & Dekimpe, M. G. (2010). The Effect of Customer Satisfaction on Consumer Spending Growth. Journal of Marketing Research, 47(1), 28-35
Fournier, S., & Alvarez, C. (2012). Brands As Relationship Partners: Warmth, Competence, and In-Between. Journal of Consumer Psychology, 22(2), 177-185.
Han, H.-E., jin, G.-Q., & Jin, C.-H. (2021). The role of human brands in consumer attitude formation: Anthropomorphized messages and brand authenticity. Cogent Business & Management, 8(1), 1923355
Hart, P., & Royne, M. B. (2017). Being Human: How Anthropomorphic Presentations Can Enhance Advertising Effectiveness. Journal of Current Issues & Research in Advertising, 38(2), 129-145.
Hirst, D. E., Joyce, E. J., & Schadewald, M. S. (1994). Mental Accounting And Outcome Contiguity In Consumer-Borrowing Decisions. Organizational Behavior and Human Decision Processes, 58(1), 136-152.
Hoza, B., Bukowski, W. M., & Beery, S. (2000). Assessing peer relations and group entry. Social Development, 9(2), 196-214.
Howcroft, B., Hamilton, R., & Hewer, P. (2007). Customer involvement and interaction in retail banking: An examination of risk and confidence in the purchase of financial products. Journal of Services Marketing, 21(7), 481-491.
IMD World Competitiveness Center. "World Digital Competitiveness Ranking." IMD Business School, link (accessed September 2, 2024).
Ingenhoff, D., & Sommer, K. (2010). Trust in Companies and in CEOs: A Comparative Study of The Main Influences. Journal of Business Ethics, 95, 339-355.
Isenberg, D. J. (1986). Group polarization: A critical review and meta-analysis. Journal of Personality and Social Psychology, 50(6), 1141.
Kamakura, W. A., & Yuxing Du, R. (2012). How Economic Contractions and Expansions Affect Expenditure Patterns. Journal of consumer research, 39(2), 229-247.
Kim, J., Lee, J., & Kim, B. (2018). Understanding consumer trust in online marketplaces: A multilevel perspective. Journal of Business Research, 86, 187-197.
Kim, G., Shin, B., & Lee, H. G. (2009). Understanding Dynamics Between Initial Trust and Usage Intentions of Mobile Banking. Information Systems Journal, 19(3), 283-311.
Kim, S., & McGill, A. L. (2011). Gaming With Mr. Slot Or Gaming The Slot Machine? Power, Anthropomorphism, and Risk Perception. Journal of Consumer Research, 38(1), 94-107.
Kurt, D., Inman, J. J., & Argo, J. J. (2011). The Influence of Friends on Consumer Spending: The Role Of Agency–Communion Orientation and Self-Monitoring. Journal of Marketing Research, 48(4), 741-754.
Loibl, C., & Scharff, R. L. (2010). Examining The Effect of Expressing A Quantitative Goal on Consumer Savings. Journal of Consumer Affairs, 44(1), 127-154.
Myers, D. G., & Lamm, H. (1976). The group polarization phenomenon. Psychological bulletin, 83(4), 602.
McKinsey & Company. (2022). The 2022 McKinsey global payments report. https://www.mckinsey.com/industries/financial-services/our-insights/the-2022-mckinsey-global-payments-report
Michaelidou, N., Micevski, M., & Siamagka, N. T. (2015). Consumers’ Intention To Donate To Two Children’s Charity Brands: A Comparison of Barnardo’s and BBC Children in Need. Journal of Product & Brand Management. 24(2), 134-146.
Motoki, K., Nakahara, T., & Velasco, C. (2023). Tasting Brands: Associations Between Brand Personality and Tastes. Journal of Business Research, 156, 113509.
Petersen, J. A., Kushwaha, T., & Kumar, V. (2015). Marketing Communication Strategies and Consumer Financial Decision Making: The Role of National Culture. Journal of Marketing, 79(1), 44-63.
Pi, S. M., Liao, H. L., & Chen, H. M. (2012). Factors That Affect Consumers' Trust and Continuous Adoption of Online Financial Services. International Journal of Business and Management, 7(9), 108.
Pinello, A., Pichierri, M., & Vanucci, A. (2022). Co-branding strategies: A systematic review and future research directions. Journal of Business Research, 145, 533-545.
Puzakova, M., & Kwak, H. (2023). Two’s Company, Three’sa Crowd: The Interplay between Collective versus Solo Anthropomorphic Brand Appeals and Gender. Journal of Advertising, 1-21.
Puzakova, M., Kwak, H., & Rocereto, J. F. (2013). When Humanizing Brands Goes Wrong: The Detrimental Effect of Brand Anthropomorphization Amid Product Wrongdoings. Journal of Marketing, 77(3), 81-100.
Rai, D., Lin, C. W. W., Jiraporn, N., & Juntongjin, P. (2022). Brand As A Leader Or A Servant? The Effect of Anthropomorphized Brand Roles and Goal Types on Consumer Responses. Management & Marketing, 17(4), 471-484.
Reavey, B., Puzakova, M., Larsen Andras, T., & Kwak, H. (2018). The Multidimensionality of Anthropomorphism in Advertising: The Moderating Roles of Cognitive Busyness and Assertive Language. International Journal of Advertising, 37(3), 440-462.
Solomon, M. R., & Dunnam, R. (1985). On the categorization of groups and dyads: A cluster analysis approach. Journal of Personality and Social Psychology, 49(4), 931-943.
Stinnett, R. C., Hardy, E. E., & Waters, R. D. (2013). Who Are We? The Impacts of Anthropomorphism and The Humanization of Nonprofits on Brand Personality. International Review on Public and Nonprofit Marketing, 10, 31-48.
Williams, K. D. (2010). Group dynamics and social influence. Journal of Personality and Social Psychology, 98(5), 775-789.
Washburn, J. M., Till, B. D., & Priluck, R. (2000). Co-branding: Brand equity and trial effects. Journal of Consumer Research, 27(4), 471-485.
White, K., & Peloza, J. (2009). Self-Benefit Versus Other-Benefit Marketing Appeals: Their Effectiveness in Generating Charitable Support. Journal of Marketing, 73(4), 109-124.
Williams, T. (2007). Empowerment of Whom and for What? Financial Literacy Education and The New Regulation of Consumer Financial Services. Law & Policy, 29(2), 226-256.
World Intellectual Property Organization. (2023). Global innovation index 2023: Innovation in the face of uncertainty. https://www.wipo.int/publications/en/details.jsp?id=4679
Xu, L., Mehta, R., & Dahl, D. W. (2022). Leveraging Creativity In Charity Marketing: The Impact of Engaging in Creative Activities on Subsequent Donation Behavior. Journal of Marketing, 86(5), 79-94.
Zhang, M., Li, L., Ye, Y., Qin, K., & Zhong, J. (2020). The Effect of Brand Anthropomorphism, Brand Distinctiveness, and Warmth on Brand Attitude: A Mediated Moderation Model. Journal of Consumer Behavior, 19(5), 523-536.
Downloads
Published
Issue
Section
License
Authors who publish with this journal agree to the following terms:
- Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution License that allows others to share the work with an acknowledgement of the work's authorship and initial publication in this journal.
- Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgement of its initial publication in this journal.
- Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work (See The Effect of Open Access).
