100 People Value a Product more Highly when it’s Physically in Front of them
You go online to reorder a box of your favorite pens. Will you value the product more if the product page has a picture of the pens versus just a text description? Will you think the pens are worth more if you’re in an office supply store and the pens are right in front of you? Does it matter if you’re buying pens or food or any other product? Does the way the item is displayed at the time you’re making the decision affect the dollar value that you put on it? Ben Bushong (2010) and a team of researchers decided to test this out.
In the first set of experiments, the researchers used snack food (potato chips, candy bars, and so on). Participants were given money to spend. ...
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