By letting customers build their own products, IKEA is able to sell their furniture for low prices since construction is one of the most costly aspects of furniture. Additionally, their customers have a higher liking for the IKEA products, because they have to build it themselves. This sounds contra-intuitive: We like it when others cook for us or clean for us, so why would we prefer to construct a table ourselves?
Our decisions and behavior are always influenced by several factors, including those factors that are unconscious. To better understand human behavior, I did a master’s degree Economic and Consumer Psychology. I studied the psychological mechanisms that underlie many of our choices and decisions concerning consumption and other economic behaviors. To fully comprehend and predict people’s behavior, we need to unravel the brain. Neuromarketing successfully identifies one piece of the puzzle at a time. In the New Neuromarketing blog, I will share these new insights with you.
Marketing and psychology are thick as thieves: by increasing their knowledge on psychology, marketeers are able to gain a deeper understanding in the behavior of their customers. However, keeping your knowledge up to date may be problematic in this quickly expanding field. In the past, people read books, scientific journals or attended conventions.