The affect premium for brands: Brand‐first versus attribute‐first presentation of product information impacts willingness to pay

Abstract

Despite considerable difference between brand and attribute information, the question of whether sequential presentation of brand and attribute information can impact product evaluation has yet to be addressed. We answer this question by identifying a novel affect-based mechanism for sequential presentation of brand and attribute information that is distinct from existing mechanisms that are predominantly cognitive. Based on the affective mental associations for a brand (vs. an attribute), we show that willingness to pay for a product is higher under brand-first (vs. attribute-first) presentation, a difference that we term the "affect premium" for brands. We present an affect-based explanation for this phenomenon by showing that it is observed only for strong brands, mediated by affect elicited by the brand, and observed only under promotion (vs. prevention) focus due to contingent reliance on affect. Further research could determine the information processing pathway involved and boundary conditions for the observed effect.