The underdog isn’t just a fan favorite in sports. Many consumers also prefer buying products from companies that market themselves as underdogs, according to a recent study.
“The use of underdog brand biographies can have a positive impact on consumers’ purchase intentions and actual choices,” according Harvard University researchers.
Their study showed that what gave a company an “underdog” appeal was achieving success despite having fewer resources than competitors and having a backstory of “passion and determination,” the researchers said, citing big technology companies that stress the “humble garages” where they were started, for example, or the label on Nantucket Nectars drinks, which say the founders started the juice company with “only a blender and a dream.”
Marketing matters, they say.