PRICE AWARENESS DECREASES ENJOYMENT OF A PRODUCT OR EXPERIENCE

Usually people who purchase a product like an electronic device, car or music album want to enjoy it as long as possible. But researchers have found through a series of experiments that getting aware of the product’s price can decrease one’s satisfaction more quickly.

"Being reminded of the price makes the experience less relaxing. This is due to the fact that we tend to evaluate the experience more critically when it's associated with money" says Kelly Haws, the study lead.  

The findings suggest that consumers can enjoy a product or experience by avoiding focusing on the price. So, while going to an amusement park, talking or thinking too much about the costs will steal away the enjoyment of the experience. ‘

Marketers can benefit from separating the product’s price from the experience. This way, they can avoid consumer depression, which can stop people from buying their product.

The study also has connotations for those who are trying to stop enjoying an experience. For instance, if you want to cut down your junk food intake, then start focusing on the prices. The findings have been published in the Journal of Consumer Psychology.

Content: www.sciencedaily.com