Labor alone can be sufficient to induce a greater liking for your own work. A study confirmed the phenomenon. Experiments involved assembling IKEA boxes, folding origami, and building with Lego.
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Food and grocery brands are using the IKEA effect to attract new "value-seeking" customers. The ideal for marketers is having customers do most of the work and feel great about it while perceiving they have gained "greater value for money".
Ready-to-create meal kits are a great example where they use prepackaged raw ingredients that you prepare and cook yourself.
If you make things more laborious, the consumers will value them more.
In the 1950s, a US food company wanted to sell more of its brand of instant cake mixes. They were advised to replace powdered eggs with fresh eggs because the all-instant cake mix makes baking too easy. It undervalues the labor and skill of the cake maker.
Several other important economic behaviors that are connected to the IKEA effect are:
It happens when consumers change their preference between two options when presented with a third option, or decoy.
The decoy is priced to make one of the other options much more attractive. The decoy is not intended to sell, just to nudge consumers away from the competitor and towards the target.
...are common thinking errors that harm our rational decision-making.
We don't always see things as they are. We don't simply glean information through the senses and act on it; instead, our minds give that info their own spin, which can sometimes be deceptive.
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