New summary available for The Human Brand

Dec. 19, 2014 - PRLog -- People judge one another based on two categories of social perception: warmth and competence. Individuals who exhibit warmth and competence tend to generate feelings of trust and admiration in others. These types of judgments occur in all relationships, including those that involve commercial transactions. In The Human Brand, Chris Malone and Susan T. Fiske describe how the warmth and competence theory of human interaction also applies to how people interact with brands and companies. They suggest that successful companies present themselves as human and create shared value with consumers through the new rules of the “Relationship Renaissance.”

According to Malone:

* Individuals who exhibit warmth and competence tend to generate feelings of trust and admiration. These types of judgments occur in all relationships, including those that involve commercial transactions.

* In a study conducted by the authors, companies and brands were judged so strongly along the lines of warmth of competence that those judgments explained nearly half of customers' purchase intents, loyalties, and recommendations.

* Most companies believe rewarding repeat patronage is the same as engendering customer loyalty, but that is not the case. For customers to trust businesses, those businesses must first demonstrate the principle of worthy intentions--that is, they must convey warmth, concern, and commitment to customer needs.

* The value of worthy intentions is that they form the basis of trusting relationships, which humans truly prefer. When customers believe their trading partners are trustworthy, they are more likely to behave with unconditional trust.

* Although e-commerce has made consumers more focused on prices, online businesses still exist that convey warmth and worthy intentions. One example of this business model is Zappos.

* The warmth and competence that company leaders project affects how customers view their companies. One way leaders can connect with customers is through genuine stories.

* Although product recalls and other product or service breakdowns are challenging for companies, they are also an opportunity to show their true colors with regard to customers. As long as consumers detect worthy intentions like honesty and transparency, they are often willing to overlook failures in competence.

* There are three actions that are key to conveying worthy intentions, warmth, and competence. Companies must become more self-aware, embrace significant change, and fundamentally shift their priorities.

To learn more, please visit www.bizsum.com