The IKEA Effect is a type of the Ownership Effect. People tend to become more attached to owning an item than borrowing it. Additionally, putting effort into their possessions enhances this attachment. However, if the effort is too much, it can have the opposite effect. IKEA intentionally does not sell furniture as finished products. Instead, it uses a sales method that encourages customers to assemble their furniture, which increases their satisfaction with the final piece. Furniture is not just a temporary consumer product but an experiential item that is visible and used regularly over time. When owners value their furniture, they see it as a vital part of their lives and a reflection of their family relationships, rather than simply a product that meets their needs. Customers who experience this tend to desire more than just furniture; they seek a symbol that fosters family bonds. However, this sales approach may not be suitable for all types of products. - Joseph’s “just my though...
Macroscopic and microscopic perspectives sometimes reveal contradictions or conflicts of logic. We must consider the variable of time when forming our thoughts and judgments, because in many cases what is considered right macroscopically may not be appropriate microscopically. In stock investing, stocks deemed correct from a long-term view are often seen as poorly chosen from a short-term perspective. Our values and judgments are sometimes praised and at other times criticized over a certain period. It seems like an innocent prank over time.
- Joseph’s “just my thoughts”
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