Textbook Capitalism

trickle down cartoon If you want to understand how the world really works, corporate marketers are a far better source than mainstream economists. The latter, of course, have long insisted that capitalism is the ultimate expression and accommodation of human reason. At the level of theorizing individual behavior, that still-regnant claim rests on the homo economicus axiom, which insists (invariably without serious examination of relevant evidence) that ordinary people are, first and foremost, walking calculators.

Here, meanwhile, is what those who are in charge of actually selling actual capitalist products have to say on this topic:

Experiences shape how consumers feel about brands, including factors such as service, quality of products and amenities.

Advertising has always needed to appeal to consumers’ emotions as the most rudimentary form of engagement, and that has not changed.

Emotions actually play a more significant role in purchase behavior than price and convenience…

There’s a point at which a customer’s positive or negative experience is so strong that it can transcend the rational aspects of a brand (e.g., quality, price, service). That’s why creating and guiding the customer experience is so important. Experience creates emotion, emotion fuels engagement and both together impact brand and business outcomes. [Source: adage.com, March 4, 2015]

Not exactly textbook material, is it?

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