Herd Behavior in Brand Marketing: How Generation and Social Channel Credibility Affect Consumer Brand Preference Shifts
Shiming Zeng
Co-Presenters: Individual Presentation
College: College of Business and Public Management
Major: Finance
Faculty Research Mentor: Eli Kochersperger
Abstract:
Since the advent of the Internet, convenient social communication amplifies the herd behavior in brand marketing. While previous studies suggest that consumers’ brand preferences will be affected by some factors such as conformity and social norms, they ignore the different extent of shift. This study investigates how herd behavior affects consumer brand preferences shift, with a focus on general and channel credibility differences.Over 150 people participated in this study, completing the questionnaire on the shift of their brand preferences and the confidence levels of social channel. Data analysis involves descriptive statistical analysis and multiple regression analysis.The study found that herd behavior varies in different generations and social channels. The findings suggest that herd behavior has greater influence in Gen Z than Gen X, through social media channels.This study provides deeper insights into how managers and employees to extend their brand sales.Keyword: herd behavior, generation, social channel, customer preference shifts