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What is the Ikea effect?
Description
You’re no doubt familiar with IKEA as the king of flatpack furniture. But you may not be aware that the Swedish company’s name is also associated with a cognitive bias.
It’s all to do with how we assign greater value to objects when we make or assemble them ourselves. Now that might seem counterintuitive but it’s become an established marketing tactic over the years.
What was their evidence? Why on earth would we want to pay more for doing more work ourselves? Does the IKEA effect come into play in other areas of life? In under 3 minutes, we answer your questions!
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A Bababam Originals podcast written and produced by Joseph Chance.
First broadcast : 29/01/2023
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