Let’s say you visit the mall to shop for a red polo at Macy’s. However, as you walk towards your destination, you notice a new storefront also offering a red polo. Do you give this new place a shot, or do you revert back to the safe, already established brand?
Emerging companies face an uphill battle regarding the acquisition of loyal customers. Risk adverse individuals may never give a new brand a chance to prove itself. Meanwhile, risk takers might jump from brand to brand....