Cool brands and hot attachments: their effect on consumers’ willingness to pay more

Abstract

Purpose This paper aims to explore how motivations to stand out and fit in through consumption affect consumers’ perceptions of subcultural and popular brand coolness. Importantly, how do perceptions of brand coolness affect consumers’ formations of hot, emotional brand attachments and their willingness to pay more? Design/methodology/approach This study incorporates survey data from consumers regarding cool brands. A structural equation modeling approach is used to assess the relationship between the variables of interest. Findings Susceptibility to influence is positively related to desire for unique consumption. While this desire may be fulfilled by both subcultural and popular perceptions of brand coolness, only subcultural coolness has a positive relationship with the willingness to pay more. The importance of an emotional brand attachment is established between both dimensions of brand coolness and price premiums. Research limitations/implications This study is based on cross-sectional survey data. As brand coolness is often transitory, longitudinal research on trends focusing on different elements of brand coolness may shed light on the cool brand lifecycle. Practical implications Firms wanting to position brands as cool should emphasize how the brand can help consumers stand out. If a cool brand is already well-known, resources should be allocated to building hot, emotional attachments to command price premiums. Originality/value This research contributes to a nascent body of literature empirically exploring brand coolness. It builds on past literature that notes the tension between standing out and fitting in conceptualizations of coolness by assessing individual differences. Significantly, it examines specific attributes of cool brands to explore the differences in how subcultural and popular perceptions of brand coolness relate to important marketing outcomes.

Luxury fashion brand coolness: niche versus mass cool

“…As for univariate normality, the skewness and kurtosis were calculated for each of the measured items. Following our results, no absolute values above 8 (for kurtosis) or above 3 (for skewness) (Kline, 2011) were found, supporting no evidence of univariate non-normality. Thus, we proceeded with our analysis with a final sample of 246 participants.…”

Innocence versus Coolness: the influence of brand personality on consumers’ preferences

“…Another way for brands to use the internal mechanism of “brand personality–consumers’ preferences” is by inducing consumers to extract stable information about brand psychological ownership, which can positively influence their brand purchase preference. As more and more consumers are pursuing a cool style in the market, brands should consider using a cool style rather than an innocent one as a persuasive marketing tool to enhance consumers’ brand psychological ownership and create a higher preference for the brand to successfully differentiate their brand from competitors (Koskie and Locander, 2023).…”

Examining the effect of brand coolness on communal brand connection and brand commitment: a mediation and moderation perspective

“…Additionally, Koskie and Locander (2023) examine the effect of cool brands on consumers' willingness to pay more, focusing on the economic aspect of consumer behavior. In contrast, the current study delves into the psychological and relational dimensions by analyzing communal brand connection and brand commitment, enriching our understanding of the emotional and social influence of brand coolness on consumer-brand relationships.…”