Sneakers Interplay of price effect and bandwagon effect The demand of the followers for a product is therefore dependent on the price of the good and also positively dependent on the overall market demand. A graphical representation makes the effect clearHere we see a market demand function for for example households without followers.  price falls to p for example the demand rises to x without a follower . This change in demand is solely due to the change in price and is therefore call the price effect. Suppose now that of the households are followers whose appreciation for the good increases as a result of the price-induc increase. 

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In demand and who thus increase their demand. This follower effect amplifies the price effect and demand increases to x . when followers exist than Sri Lanka Phone Number List without followers. In shortthe larger the numr of followers or the more pronounc their follower havior the flatter the demand function. The follower effect thus has a positive effect on the demand volume. you get the most out of the bandwagon effect The opposite of the bandwagon effect is the snob effect in which customers or consumers make the purchase decision dependent on the fact that they are the only ones who own the product.

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The demand function is therefore flatter

With the bandwagon effect however you ne to make the opposite clear in your marketing which is that everyone is buying from you! There are many KY Lists ways to use the follower effect in marketing. This includes for example influencer marketing . low we list some other proven waysShow other customers references! Show how many customers/memrs you have! Show your market position! Show that you are the market leader! Show how much you’ve sold! What was bought the most Show rankings! What are the top products Show how many customers care! How often were your products view Show what others get from your services. 

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