Uber and the endowment effect

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shakil015
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Joined: Wed Dec 18, 2024 3:22 am

Uber and the endowment effect

Post by shakil015 »

4. Dollar Shave Club’s Facebook ad
Dollar Shave Club’s psychographic segmentation marketing campaign
Why does it make the powerful psychographics examples list?

Dollar Shave Club went bold in its attempt to win more of the men’s grooming market from competitors. This ad’s copy says that customers are “ditching” big names like Gillette, piquing their target audience’s curiosity.

Dollar Shave Club leveraged its data points mobile no data and understood that its audience would respond well to this kind of message. If you know which other brands your target audience uses or trusts, being explicit about how you outperform them can serve as a powerful marketing tool.

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Uber’s psychographic segmentation marketing campaign
Why does it make the powerful psychographics examples list?

The endowment effect is an emotional bias that causes individuals to (often irrationally) value an owned object higher than its market value.

In the example above, Uber creates a sense of ownership (“your” first ride—it’s yours) right off the bat. It doesn’t matter that you have to sign up in order to get the $15. When you see this coupon, you give it more value than it actually deserves (which is precisely $15). This giveaway idea is simple but extremely effective.

6. Crate & Barrel and the goal-gradient effect
Crate & Barrel’s psychographic segmentation checkout process
Why does it make the powerful psychographics examples list?
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