Influencing consumer behaviour: How framing, anchoring and bandwagon effect sway online shopping decision making
Author : Ananya A. Saxena
Heritage International Xperiential School, Gurgaon
Advertisements are an essential part of our lives. We see them on TV, on billboards and even on social media that the population spends half their day on. For advertisers it is important that a consumer’s decision to buy a product be in the favour of their company. To that extent, they employ biases which unconsciously affects the consumer’s decision. Hence the present study aims to investigate the extent to which 3 of the biases- framing effect, anchoring effect and bandwagon effect, influence the consumer’s decision. A self constructed questionnaire was used with a sample size of 30 participants (13 males, 17 females) residing in urban areas of Delhi NCR. Findings of the survey indicate that these biases do have an effect on the consumer’s decision to buy the product. The findings are essential in the field of advertisement, especially in an online scenario, where companies want to be more successful with advertising.