EPISODE · Feb 9, 2023 · 11 MIN
The Endowment Effect: Creating emotional bonds your customers don't want to break
from Choice Hacking: The Marketing Psychology Podcast · host Jennifer L. Clinehens
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What this episode covers
Have you ever been shopping and put something in your cart just to think about it? You weren’t sure if you were going to buy it, but you wanted to walk around with it for a bit to see if your mind changed. Did you end up buying it or putting it back on the shelf? It turns out that the intent to own, or owning, an item can create emotional bonds that people don’t want to break. It’s down to a behavioral science principle known as the Endowment Effect. Join me today as I unpack the Endowment Effect - what it is, how brands apply it in the real world, and how it can improve your marketing, customer experience, and product design.
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The Endowment Effect: Creating emotional bonds your customers don't want to break
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