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Impact of consumers’ effort investments on buying decisions

Impact of consumers’ effort investments on buying decisions Purpose – This study aims to explore the effect of amount of effort invested by consumers toward the purchase of a product on the amount they will spend on the product. Authors argue that greater effort on the part of the consumer will lead to an irrational focus on sunk effort causing them to spend more. Design/methodology/approach – To explore the effect of amount of effort invested by consumers toward the purchase of a product on the amount they will spend on the product. Authors argue that greater effort on the part of the consumer will lead to an irrational focus on sunk effort, causing them to spend more. Findings – Consumers who invest more effort in buying, spend more on the product in a bid to justify their decision to invest effort in the first place. This effect is stronger in the presence of decisional control. Originality/value – Much academic research has examined adverse effects of effort spent by consumers and has sought to make things easier for consumers. This research shows that making it harder rather than easier, can make consumers willing to spend more money, particularly when they view themselves in control. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Consumer Marketing Emerald Publishing

Impact of consumers’ effort investments on buying decisions

Lala, Vishal; Chakraborty, Goutam
Journal of Consumer Marketing , Volume 32 (2): 10 – Mar 16, 2015
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Publisher
Emerald Publishing
Copyright
Copyright © Emerald Group Publishing Limited
ISSN
0736-3761
DOI
10.1108/JCM-08-2014-1090
Publisher site
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Abstract

Purpose – This study aims to explore the effect of amount of effort invested by consumers toward the purchase of a product on the amount they will spend on the product. Authors argue that greater effort on the part of the consumer will lead to an irrational focus on sunk effort causing them to spend more. Design/methodology/approach – To explore the effect of amount of effort invested by consumers toward the purchase of a product on the amount they will spend on the product. Authors argue that greater effort on the part of the consumer will lead to an irrational focus on sunk effort, causing them to spend more. Findings – Consumers who invest more effort in buying, spend more on the product in a bid to justify their decision to invest effort in the first place. This effect is stronger in the presence of decisional control. Originality/value – Much academic research has examined adverse effects of effort spent by consumers and has sought to make things easier for consumers. This research shows that making it harder rather than easier, can make consumers willing to spend more money, particularly when they view themselves in control.

Journal

Journal of Consumer Marketing – Emerald Publishing

Published: Mar 16, 2015

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