Question

What is the difference between bandwagon effect and snob effect?

Answer 1

Sr. No.	Bandwagon Effect	Snob Effect
1.	It is a psychological effect in which people do the same as others are doing. They do not have their own belief and thinking.	It is understood as the desire to possess a unique commodity having a prestige value. It is quite the opposite to the bandwagon or demonstration effect.
2.	The bandwagon effect leads to an increase in demand for a particular commodity.	The snob effect leads to a decrease in demand of a particular commodity
3.	The primary goal of the consumer participating in this effect is to achieve social belonging and alignment with current trends.	The primary goal of the consumer participating in this effect is to signal high status and establish superiority over the crowd.
4.	A consumer purchases a viral style of sneakers or buys a specific smartphone brand solely because everyone else in their peer group owns it.	A collector completely stops purchasing a high-end luxury fashion brand the moment it becomes mass-produced and affordable to the general public.