Implement the IKEA effect into marketing

New Ideas in MarketingEssential news for marketers, summarised by YouGov
February 04, 2021, 2:12 PM GMT+0

IKEA effect, evidence-based consumer psychology, because consumers put a higher value on what they help create.

An International Journal of Research in Marketing found the students might be willing to pay twice as much to buy a product that they are required to put it together over having the same product prebuilt. Based on this psychology, the researchers found people actually like products, which require some level of assembly.

However, consumers are also willing to fork over extra cash for experiences that require them to “put in some sweat equity”. Additionally, the materials could be less expensive upfront and have lower quality and a short product life span.

Content creators can also implement the IKEA effect to engage audiences better. Marketers should create content that promotes a sense of self-sufficiency, make readers feel good and fulfils their psychological need.

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