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 ...
Only buziness The Electric 4-Wheeler Industry in India: An In-Depth Analysis What is the Market Value of the Industry? The electric 4-wheeler industry in India has seen substantial growth over recent years. As of 2023, the market value of the electric vehicle (EV) sector in India is estimated to be around USD 2.1 billion, with projections suggesting it could reach USD 7.09 billion by 2027. This growth is driven by increasing consumer demand, government incentives, and advancements in EV technology. Who are the Majority Market Holding Companies and Their Revenue? Several key players dominate the electric 4-wheeler market in India. Here are five notable companies and their estimated revenues: 1. Tata Motors : Tata Motors has been a significant player with its electric model, Tata Nexon EV, leading the market. The company's revenue from EVs is estimated to be around USD 500 million. 2. Mahindra Electric : Mahindra has been proactive in the EV space with model...