In the 70s, psychologists discovered that we value the things we own more than they are worth. That is, we are not ready to part with them for reasonable, from the market point of view, money. There were a lot of experiments. And with such simple things as tickets and mugs.
Let's say you bought a ticket to a band concert for 100 rubles. If you are offered to sell it, you will demand a premium that cannot be explained by rational reasons. For example, you want 500 rubles for it. This ticket is now “yours”, your property, an extension of your self. Psychologists called this effect the “endowment effect.”
In another famous experiment, students were given $6 cups with a university logo on them. And then they invited other students to bargain with their fellow students and buy back these cups. As a result, the two parties did not agree: the proposed price level seemed too low to the new owners.
Other scientists have suggested that the endowment effect distorts our perception not only when we actually own it, but even when we simply hold something in our hands. And the more we hold it, the stronger this effect will be. The experiment used mugs again. All participants in the experiment knew the cost of the mug. One group was allowed to hold the mug for 10 seconds, the second - 30. Then the subjects made bets - each voiced the amount that he was willing to pay for the mug. It was proven that the duration of tactile contact is related to the size of the amount that was voiced by the experiment participants. The longer the tactile contact, the greater the amount. The second group was willing to pay 50% more than the first.
Various trial periods for websites, the opportunity to test a product in a store or a car at a presentation - all these formats and offers work because tactile contact with an object creates the effect of ownership in us. We are willing to pay more for this item and do not want to part with it.
Conclusion: any test drive of a product during an event, even the shortest one, will significantly increase the effectiveness of the event and have a positive impact on sales. Any opportunity to touch a product within an event works better than other tools. The longer the interaction between the guest and the product, the stronger the effect. Interactive technologies, decorations, shows and other ways to engage the guest are good, but at the end of the day there must be direct contact with the product.
In the 70s, psychologists discovered that we value the things we own more than they are worth. That is, we are not ready to part with them for reasonable, from the market point of view, money. There were a lot of experiments. And with such simple things as tickets and mugs.
Let's say you bought a ticket to a band concert for 100 rubles. If you are offered to sell it, you will demand a premium that cannot be explained by rational reasons. For example, you want 500 rubles for it. This ticket is now “yours”, your property, an extension of your self. Psychologists called this effect the “endowment effect.”
In another famous experiment, students were given $6 cups with a university logo on them. And then they invited other students to bargain with their fellow students and buy back these cups. As a result, the two parties did not agree: the proposed price level seemed too low to the new owners.
Other scientists have suggested that the endowment effect distorts our perception not only when we actually own it, but even when we simply hold something in our hands. And the more we hold it, the stronger this effect will be. The experiment used mugs again. All participants in the experiment knew the cost of the mug. One group was allowed to hold the mug for 10 seconds, the second - 30. Then the subjects made bets - each voiced the amount that he was willing to pay for the mug. It was proven that the duration of tactile contact is related to the size of the amount that was voiced by the experiment participants. The longer the tactile contact, the greater the amount. The second group was willing to pay 50% more than the first.
Various trial periods for websites, the opportunity to test a product in a store or a car at a presentation - all these formats and offers work because tactile contact with an object creates the effect of ownership in us. We are willing to pay more for this item and do not want to part with it.
Conclusion: any test drive of a product during an event, even the shortest one, will significantly increase the effectiveness of the event and have a positive impact on sales. Any opportunity to touch a product within an event works better than other tools. The longer the interaction between the guest and the product, the stronger the effect. Interactive technologies, decorations, shows and other ways to engage the guest are good, but at the end of the day there must be direct contact with the product.
