Featured Research

from universities, journals, and other organizations

Ownership increases the value of products: How does gender matter?

Date:
August 15, 2012
Source:
University of Chicago Press Journals
Summary:
The price a consumer will pay for a product is often significantly less than the price they will accept to sell it. According to a new study, this occurs because ownership of a product enhances its value by creating an association between the product and consumer identity.

The price a consumer will pay for a product is often significantly less than the price they will accept to sell it. According to a new study in the Journal of Consumer Research, this occurs because ownership of a product enhances its value by creating an association between the product and consumer identity.

"Our studies support the idea that ownership enhances the attractiveness of a product because ownership creates an association between the item and the self," write authors Sara Loughran Dommer (Georgia Institute of Technology) and Vanitha Swaminathan (University of Pittsburgh).

In several studies, the authors found a link between possessions and consumer identity. They also discovered that men are more likely to consider a product's association with specific social groups when making a purchase. "Men strive to differentiate themselves and group distinctions are more significant for them. In contrast, women are focused on forming connections and less likely to classify themselves as separate from others. They are less likely to purchase products because of an association with a particular social group," the authors write.

Businesses can benefit from creating feelings of ownership through promotional strategies such as free trials, samples, and coupons. For instance, a consumer may be more willing to purchase a couch if they are offered a free trial, clothing stores increase sales by having customers try on items, and sporting goods stores could allow consumers to try out equipment in the store to boost sales.

However, companies wanting women to identify with and purchase their brands need to work harder to emphasize the identity differences across brands. A good example would be Apple's recent Mac versus PC advertising campaign that depicted the distinct identities of the two brands.

"If ownership increases the value consumers place on products, then companies could benefit from any action that creates feelings of ownership before actual purchase. Our findings regarding gender differences also suggest that in certain situations companies may benefit from prompting female consumers to make intergroup comparisons," the authors conclude.


Story Source:

The above story is based on materials provided by University of Chicago Press Journals. Note: Materials may be edited for content and length.


Journal Reference:

  1. Sara Loughran Dommer and Vanitha Swaminathan. Explaining the Endowment Effect Through Ownership: The Role of Identity, Gender, and Self-Threat. Journal of Consumer Research, February 2013; [link]

Cite This Page:

University of Chicago Press Journals. "Ownership increases the value of products: How does gender matter?." ScienceDaily. ScienceDaily, 15 August 2012. <www.sciencedaily.com/releases/2012/08/120815093238.htm>.
University of Chicago Press Journals. (2012, August 15). Ownership increases the value of products: How does gender matter?. ScienceDaily. Retrieved September 18, 2014 from www.sciencedaily.com/releases/2012/08/120815093238.htm
University of Chicago Press Journals. "Ownership increases the value of products: How does gender matter?." ScienceDaily. www.sciencedaily.com/releases/2012/08/120815093238.htm (accessed September 18, 2014).

Share This



More Mind & Brain News

Thursday, September 18, 2014

Featured Research

from universities, journals, and other organizations


Featured Videos

from AP, Reuters, AFP, and other news services

Corporal Punishment on Decline, Debate Renews

Corporal Punishment on Decline, Debate Renews

AP (Sep. 16, 2014) Corporal punishment in the United States is on the decline, but there is renewed debate over its use after Minnesota Vikings running back Adrian Peterson was charged with child abuse. (Sept. 16) Video provided by AP
Powered by NewsLook.com
FDA Eyes Skin Shocks Used at Mass. School

FDA Eyes Skin Shocks Used at Mass. School

AP (Sep. 15, 2014) The FDA is considering whether to ban devices used by the Judge Rotenberg Educational Center in Canton, Massachusetts, the only place in the country known to use electrical skin shocks as aversive conditioning for aggressive patients. (Sept. 15) Video provided by AP
Powered by NewsLook.com
Shocker: Journalists Are Utterly Addicted To Coffee

Shocker: Journalists Are Utterly Addicted To Coffee

Newsy (Sep. 13, 2014) A U.K. survey found that journalists consumed the most amount of coffee, but that's only the tip of the coffee-related statistics iceberg. Video provided by Newsy
Powered by NewsLook.com
'Magic Mushrooms' Could Help Smokers Quit

'Magic Mushrooms' Could Help Smokers Quit

Newsy (Sep. 11, 2014) In a small study, researchers found that the majority of long-time smokers quit after taking psilocybin pills and undergoing therapy sessions. Video provided by Newsy
Powered by NewsLook.com

Search ScienceDaily

Number of stories in archives: 140,361

Find with keyword(s):
Enter a keyword or phrase to search ScienceDaily for related topics and research stories.

Save/Print:
Share:

Breaking News:
from the past week

In Other News

... from NewsDaily.com

Science News

Health News

Environment News

Technology News



Save/Print:
Share:

Free Subscriptions


Get the latest science news with ScienceDaily's free email newsletters, updated daily and weekly. Or view hourly updated newsfeeds in your RSS reader:

Get Social & Mobile


Keep up to date with the latest news from ScienceDaily via social networks and mobile apps:

Have Feedback?


Tell us what you think of ScienceDaily -- we welcome both positive and negative comments. Have any problems using the site? Questions?
Mobile: iPhone Android Web
Follow: Facebook Twitter Google+
Subscribe: RSS Feeds Email Newsletters
Latest Headlines Health & Medicine Mind & Brain Space & Time Matter & Energy Computers & Math Plants & Animals Earth & Climate Fossils & Ruins