The Bandwagon Effect in Marketing : Why People Buy What Others Are Buying Estimated Read Time :- 7- 8 Minutes Word Count :- 1,510 Words Ever wondered why certain products suddenly become “must-haves”? Why people line up for sneakers, gadgets, or even coffee cups? That’s the Bandwagon Effect — a powerful psychological phenomenon where people adopt beliefs, behaviors, or purchases simply because others are doing it. In marketing, this is gold. Once your product starts trending, the human instinct to belong amplifies sales exponentially. The logic? “If everyone’s buying it, it must be good.” What Is the Bandwagon Effect? The Bandwagon Effect is a social psychology concept where individuals conform to majority behavior to feel included or validated. It’s not just peer pressure — it’s wired into our survival instincts. In the modern marketplace, this translates into viral trends , sold-out products, and cult-like brand followings. From iPhone launches to ...
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TOP 5 RICHEST PERSONS IN SWITZERLAND 2024
1.GIANLUIGI APONTE
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The largest shipping company in the world, MSC, is owned by Gianluigi Aponte and his wife Rafaela to the tune of 50% each.
In the 1960s, while serving as a ship captain, Gianluigi made his first journey to the Italian island of Capri, where he met Rafaela.
When they used a $200,000 loan to buy a ship in 1970, they jointly started the shipping business.
Additionally, MSC is involved in port operations (Terminal Investment Limited), inland logistics (Medlog), and vacation cruises (MSC Cruises).
Diego is MSC's president, Rafaela is in charge of MSC Cruises' ship decorations, and Gianluigi serves as the company's executive chairman.
In the 1960s, while serving as a ship captain, Gianluigi made his first journey to the Italian island of Capri, where he met Rafaela.
When they used a $200,000 loan to buy a ship in 1970, they jointly started the shipping business.
Additionally, MSC is involved in port operations (Terminal Investment Limited), inland logistics (Medlog), and vacation cruises (MSC Cruises).
Diego is MSC's president, Rafaela is in charge of MSC Cruises' ship decorations, and Gianluigi serves as the company's executive chairman.
NET WORTH:33.01 billion dollars($)
2.ERNESTO BERTARELLI
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After his father passed away in 1998, Ernesto Bertarelli inherited the biotech behemoth Serono, which makes the medication Rebif for multiple sclerosis.
Before selling it to Merck for more than $13 billion in 2007, he and his sister Dona grew the business to $2.4 billion in sales.
The Bertarelli Foundation, which supports life sciences research and marine conservation, is co-chaired by Ernesto and Dona.
The investments held by the family's Waypoint Group range from pharmaceutical enterprises to London commercial real estate.
Vava II is a superyacht that he also owns.
Before selling it to Merck for more than $13 billion in 2007, he and his sister Dona grew the business to $2.4 billion in sales.
The Bertarelli Foundation, which supports life sciences research and marine conservation, is co-chaired by Ernesto and Dona.
The investments held by the family's Waypoint Group range from pharmaceutical enterprises to London commercial real estate.
Vava II is a superyacht that he also owns.
NET WORTH:11.11 billion dollars($)
3.IVAN GLASENBERG
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The greatest individual shareholder in Glencore, the global commodities trader, is van Glasenberg.
From 2002 until his retirement in 2021, Glasenberg was Glencore's CEO.
After graduating from USC with an MBA, Glasenberg began working as a marketer in Marc Rich & Co.'s coal division back in his home country of South Africa.
It changed its name to Glencore in 1994, and in 2011 it became public.Upon receiving his MBA from USC.
From 2002 until his retirement in 2021, Glasenberg was Glencore's CEO.
After graduating from USC with an MBA, Glasenberg began working as a marketer in Marc Rich & Co.'s coal division back in his home country of South Africa.
It changed its name to Glencore in 1994, and in 2011 it became public.Upon receiving his MBA from USC.
NET WORTH:9.45 billion dollars($)
4.THOMAS SCHMIDHEINY
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The majority of Thomas Schmidheiny's wealth comes from the massive cement and construction materials company Lafarge Holcim, which was created in 2014 through a massive merger.
The family business was started by his grand-uncle Ernt in 1912, and over time, the brick and cement empire that the family created was established.
In 1984, Thomas's father Max partitioned the estate, leaving him with cement and Holcim, a concrete producer. His sibling Stephan acquired Eternit as a concrete supplier.
2018 saw Thomas leave the board; he is currently Holcim's honorary chairman. He oversaw the business for twenty years before retiring as chairman in 2003.
Additionally, Schmidheiny owns wineries in Switzerland, Argentina, and California.
The family business was started by his grand-uncle Ernt in 1912, and over time, the brick and cement empire that the family created was established.
In 1984, Thomas's father Max partitioned the estate, leaving him with cement and Holcim, a concrete producer. His sibling Stephan acquired Eternit as a concrete supplier.
2018 saw Thomas leave the board; he is currently Holcim's honorary chairman. He oversaw the business for twenty years before retiring as chairman in 2003.
Additionally, Schmidheiny owns wineries in Switzerland, Argentina, and California.
NET WORTH:6.98 billion dollars($)
5.MAGDALENA MARTULLO-BLOCHER
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Magdalena Martullo-Blocher owes her wealth to her ownership in EMS-Chemie, the massive Swiss manufacturer of chemicals and polymers.
When her father, Christoph Blocher, left to seek a position on the Swiss Federal Council in 2004, she assumed leadership of the business.
Magdalena and her three millionaire siblings, Rahel, Miriam, and Markus, received his shares from him.
She had management positions at Johnson & Johnson and the Swiss beverage company Rivella prior to joining the EMS-Chemie board in 2001.
Magdalena entered politics in 2015, following in her father's footsteps when she was chosen to serve as a national councilor in the Swiss parliament.
When her father, Christoph Blocher, left to seek a position on the Swiss Federal Council in 2004, she assumed leadership of the business.
Magdalena and her three millionaire siblings, Rahel, Miriam, and Markus, received his shares from him.
She had management positions at Johnson & Johnson and the Swiss beverage company Rivella prior to joining the EMS-Chemie board in 2001.
Magdalena entered politics in 2015, following in her father's footsteps when she was chosen to serve as a national councilor in the Swiss parliament.
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