Top Off Preferences for More or Less

Some product attributes are MIB and others are LIB. For most shoppers, More Is Better applies to characteristics such as the number of pockets in a backpack or the abrasion resistance of paint. The quintessential Less Is Better attribute for all items usually is price. Sometimes, though, what is LIB for one shopper is MIB for another. Price level signals financial sacrifice, but also signals the extent of quality. A low caloric count tends to be perceived as both more healthfulness and less pleasant taste.
     This MIB / LIB typology was used by researchers at University of South Carolina, Wayne State University, Babson College, Indiana State University, and Stockholm School of Economics to develop recommendations for how to display and advertising offerings. To improve sales, arrange MIB alternatives within a product category so that the ones with a higher rating on that attribute are shelved above the others. With LIB alternatives, place those with a lower rating below the other choices. Follow the parallel logic in comparative advertising and with in-store signage which lists the alternatives.
     Often, a particular item will have a mix of MIB and LIB attributes. With a robotic vacuum, battery life is MIB while battery recharge time is LIB. In these circumstances, configure the options based on which of the attributes you want to feature, considering what shoppers come to you seeking in that product category.
     With all these considerations, experiment to discover what tops off profits for you.

For your success: Retailer’s Edge: Boost Profits Using Shopper Psychology

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Orient Shoppers to Appreciate Discounts