Consumers are cognitive misers, and hence parsimonious
when it comes to using information. As a
result, they desire to stay with the same brand if
they are satisfied. Even a ‘good enough’ brand may
restrain them from trying new brands. Consumers
may also be risk averse in terms of monetary and
time investments associated with trying new
brands, leading them to stick to brands that offer
an assurance of quality (e.g., Tylenol vs. cheaper,
generic acetaminophen). Finally, consumers like to
stay with the same brands because they express the
consumers’ identity and/or capture their aspirations.
This is a more stable state and not easy to
disrupt. It may even be based on brand preferences
acquired by the consumers over a long period of
time. This could explain the success of brands
such as Jeep Wrangler: Even though the Wrangler